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Mark Carney's strategy to prepare Britons and the market for a first rate hike from Bank of England since 2008/09 crisis seems to be bearing fruit.
Latest survey by Markit shows, that rate hike expectations are getting entrenched.
About 14% Households are expecting higher rates by mid-October, up from 10% in June Survey/
34% of the respondents foreseeing at least one rate hike from BOW within next six months, up from 24% in June.
62% of the households are expecting rate increase in next 12 months, up from 54% in June.
Rate hike and Pound outlook -
- In spite of enthusiasm from public, market hasn't quite geared up for a rate hike from BOE and outlook from GBP/USD likely to remain clouded as rate hike from FED is looming in the horizon and ahead of BOE.
- Focus will turn to BOE, once the rate hike from FED is done with.
After dissapointing retail sales, Pound is treading water around 1.56 against dollar.
