Carney-Yellen Neck-and-Neck on Being First to Raise Rates
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Federal Reserve Chair Janet Yellen may just beat Bank of England Governor Mark Carney to the first interest-rate increase since the financial crisis.
Investors extended bets yesterday on how long the BOE will keep its benchmark at a record-low 0.5 percent after officials cut their growth and inflation forecasts. Markets are now pricing in a quarter-point increase by November next year, Sonia forwards show. As recently as August, wagers were for around February. In the U.S., the Fed is seen acting by September.