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A UK rate rise by Christmas?

We could see an interest rate rise in the UK within six months. That's the view of BGC Partners' Market Strategist, Michael Ingram, who's wondering whether the markets have got their sums rights in anticipating the first rise in 2015. His comments follow another drop in the UK unemployment rate, now down more than expected to 6.6 percent.

Michael says calls for an early rise are growing louder, not least in the MPC Committee itself. He says it could provoke an initial market shock but then things should get more stable, so long as the Bank of England charts a "careful course".

The swift recovery in Britain's economic conditions have surprised many. Michael, however, warns that we shouldn't get too carried away. There are still imbalances and global risks that could bring the good news to a sudden end.

02:33 minutes
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