Outlook for UK rates

First BoE rate increase in Q1-2016, timing subject to inflation not undershooting BoE target

Societe Generale notes as follows ....

• CPI inflation could possibly to turn negative in H1-2015
  
  
• May 7th general election: Conservatives and Labour neck-and-neck, majority out of reach, upside risk for Gilt yields
  
  
• 10y Gilt target lowered to 2.25% by end-2015