Forecasters expecting early rise in interest rates

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FORECASTERS are not convinced the Bank of England’s current guidance on monetary policy is accurate.

Only half of those quizzed in a poll expects the central bank to wait until 2016 before raising interest rates.

The poll was taken before surveys on Thursday showed that Britain’s services sector posted solid growth in September.

Investec chief economist Philip Shaw said: “A combination of firm growth and falling joblessness will result in the MPC responding by raising rates earlier than implied by its current guidance.”