Jeffrey: The time for a UK rate hike may have finally arrived

Turning point for monetary policy

Cazenove Capital CIO Richard Jeffrey analyses the state of the domestic economy, and suggests monetary policy may have at last reached a turning point.

With events in Greece capturing the headlines, it might seem rather parochial to be writing about the domestic labour market. But I have set out my position on Greece previously in this column, and there seems no point in repeating it. More to the point, perhaps, for most people who read this article, it will not be events in Greece that impact them but events closer to home – events that could cause the Monetary Policy Committee to begin rethinking its stance on interest rates.  That is not to say Greece is unimportant. The fact the situation has become so fraught is, in my view, tes...