ITV News Index

ComRes interviewed 2,053 British adults online between 8^th and 10^th November 2013. Data were weighted to be demographically representative of all GB adults aged 18+. ComRes is a member of the British Polling Council and abides by its rules. 

Date Published: 13 Nov 2013

Categories: Economy | Politics | Public and communities | UK

Description

COMRES / ITV NEWS POLL

 

PUBLIC EXPECT INTEREST RATE RISES SOONER RATHER THAN LATER

In a new ComRes poll for ITV News tonight, two thirds of the British public (66%) expect interest rates to rise by 2015. Just 12% think rates will rise in 2016 or later. Meanwhile, the British public is split about what impact a rise in interest rates would have, with home-owners with mortgages most likely to say it would have a negative effect and retired people with private pensions most likely to say it would have a positive effect.

 

·         Although few British people believe that interest rates will be raised before the end of this year (4%), more people think interest rates will rise in 2014 (37%) than think they will in any other year. The second most common answer is 2015 (25%).

·         Just one in eight Britons (12%) think that interests rates will rise in 2016 or later, as was expected on the basis of the Bank of England’s original “Forward Guidance” initiative. 7% think interest rates will rise in 2016 and 5% think they will rise in 2017 or later. This compares to the two thirds (66%) who think they will rise in 2015 or before.

 

·         In terms of the effect a rise in interest rates would have, 30% say it would have a positive impact on their personal financial situation, 31% say it would have a negative impact and 27% say it would have no impact.

·         The majority of homeowners with a mortgage (53%) believe a rise in interest rates would have a negative effect, including one in five (20%) who say it would have a very negative impact.

·         People who own their house outright (56%) and who are retired with a private pension (59%) are the most likely groups to say they would benefit from a rise in interest rates.

·         A majority of people aged 65+ think that a rise in interest rates would have a positive effect on their financial situation (53%). Middle-aged people aged are most likely to say it would have a negative impact (43% of people aged 35-54).

 

Q: When do you think that interest rates are most likely to rise?

 

Option	%
In 2013	4%
In 2014	37%
In 2015	25%
In 2016	7%
In 2017 or later	5%
Don’t know	23%

Base: All respondents (n=2,053).

 

Q: If the Bank of England were to raise interest rates now, what impact if any would it have on your personal financial situation overall?

 

Option	%
Very positive impact	7%
Fairly positive impact	23%
No impact	27%
Fairly negative impact	20%
Very negative impact	11%
Don’t know	12%
NET: Positive	30%
NET: Negative	31%

Base: All respondents (n=2,053).

METHODOLOGY NOTE: ComRes interviewed 2,053 British adults online between 8^th and 10^th November 2013. Data were weighted to be demographically representative of all GB adults aged 18+. ComRes is a member of the British Polling Council and abides by its rules.