BOE seen raising rates earlier if Labour-led govt wins
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London
A LABOUR-LED government could put pressure on Bank of England officials to increase interest rates earlier than markets expect as it eases fiscal austerity, according to firms from AXA Investment Managers to Blackrock Inc.
The deficit-reduction plans Labour is proposing imply spending cuts and tax increases equal to about 2.8 per cent of gross domestic product by 2020, according to the Institute for Fiscal Studies. Prime Minister David Cameron's Conservatives are targeting predominantly spending reductions worth 4.2 per cent of GDP to be delivered over the next three years.
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