BoE rate hike call further delayed to Q3 2017 - RBS

After cutting its UK GDP growth forecast for 2016 to 1.9% from 2% and also 2017 to 1.8% from 2.1%, research Team at RBS, has now pushed back its BoE rate hike call to Q3 2017 from Q1 2017.

Key Quotes

"The risks are skewed towards an even later first hike as the resumption of fiscal policy tightening (averaging 1% of GDP a year for each of the next four years) means the UK's overall macroeconomic policy stance is far less accommodative than that implied by monetary policy alone."