Economic trends: interest rates unlikely to rise

The outlook for the global economy is looking decidedly shaky with the oil price falls and some regional geopolitical instability, but is it really cause for concern in the UK and how will it impact future interest rates, asks Ben Brettell, senior economist at Hargreaves Lansdown

With year-on-year growth running at 3.0%, business investment picking up and consumer spending buoyant, the UK economy seems in reasonable health. However, problems elsewhere have led to a series of bad news stories over recent weeks.

David Cameron cautioned that ‘red warning lights are flashing on the dashboard of the global economy’. This shifts the focus of political debate away from immigration and Europe (now considered UKIP territory) and back towards the traditional Conservative stronghold of the economy.

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