The interest rate conundrum: when will a hike happen and what will it mean?

There is speculation that rates could rise before the anticipated 2016 time frame indicated by the Bank of England

Monday 4 November 2013 at 17:00

With interest rates at historic lows, the key question for the financial markets is: when will they rise?

The Bank of England's benchmark interest rate has remained at a historic low for more than four and a half years, and the last hike came in summer 2007 in the heady days of a 5%-plus base rate.