Kames Capital's David Roberts has warned delaying an interest rate hike any longer could cause the kind of inflationary shock last seen in the UK more than thirty years ago.
Bank of England governor Mark Carney has hinted interest rates could rise in the spring of next year as the UK economy continues to recover from one of the worst downturns it has ever faced.
There has been forward guidance, backtracking, and a lot of false starts, but as the world's largest economies continue to recover, the question over which developed region will raise rates first looms large.
The Bank of England will hold off on hiking rates for six months if it does not act by November, leaving a "clear run" for investors until the general election, Richard Buxton has predicted.
Two members of the Bank of England's Monetary Policy Committee voted for a 25bps rate hike this month, latest minutes show - the first call for hikes in over three years.
Wealth managers report their clients are clamouring to take on more risk in portfolios, even as markets retreat from record highs.