U.K. interest rate hike expectations tumbled to its lowest level in two years, results of a quarterly survey by the Bank of England showed Friday.
The November BoE/GfK Inflation Attitudes survey showed that 35 percent Britons expect interest rates to rise over the next 12 months compared to a four-year high of 50 percent in the August round.
The balance was the lowest since November 2013, when it was 34 percent.
And 36 percent of those surveyed felt interest rates remaining unchanged was best for the economy, while 16 percent thought rates should go up. Fourteen percent felt the need for a rate cut.
The survey was carried out between November 5 and 10 among 1963 people aged 16 and over in 175 randomly selected output areas throughout the U.K.
On November 5, a dovish economic outlook from the Bank of England has dampened the prospect of an interest rate hike in the near term and suggested that interest rates are unlikely to rise until late 2016 as inflation is expected to remain low.
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