The Bank of England, in Governor Mark Carney's speech at the Mansion  House on Thursday, has given a very strong signal that UK interest rates will be going up, probably before the election next May.

There was a time when 1/2% moves were the norm but most of the reductions that took the rate down to 0.5% were 1/4% bites and there is a good chance the upward rate rises will be the same. One within three months, possibly within one month and another in Q1 next year would make a reasonable bet.