July 29 2014 Latest news:
In early July, the equity market pulled back as investors contemplated a turn in the UK interest rate cycle.
Last week was not a comfortable one for UK investors, with the FTSE 100 index falling by close to 4% − the biggest drop in a week since last March.
There have been a lot of comments recently on where interest rates might be going. Not only has the governor of the Bank of England, Mark Carney, delivered sometimes conflicting views on what the future might hold for the cost of money, but senior figures associated with the Monetary Policy Committee, which sets the level of interest rates, have delivered their form of forward guidance.