UK interest rates on hold until autumn 2016, City predicts

Global stock market turmoil and fears about China raises the prospect of historically low borrowing costs staying in place for longer than expected

The first rise in UK interest rates could be delayed until autumn 2016, according to City expectations, as market turmoil in China raises the prospect of historically low borrowing costs staying in place for longer than expected.

The forecasts came as signs emerged of homeowners scrambling to remortgage over the past month in anticipation of a rate increase that might now be delayed.

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