Britons' bets on UK interest rate hike plunge, Markit survey reveals

The number of people in Britain who see the Bank of England raising interest rates over the next 12 months has fallen dramatically, a survey revealed on Wednesday.

Amid low inflation and weak global growth, 46% of Britons expect the central bank to raise rates before February 2017, Markit said, compared to 71% in November.

Just 22% predict a rate hike over the next six months, compared to 40% in January, the survey added.

The six-month and 12-month forecasts marked the lowest figures since October 2013.

The Bank of England earlier in the month decided to keep interest rates unchanged at 0.50%, highlighting weak wage growth, a slowdown in emerging markets, falling oil prices and low inflation.

Governor Mark Carney in January said he wanted to see inflation return nearer to 2%, wage growth accelerate and economic growth improve before raising rates.

"With policymakers facing low inflation, falling commodity prices and global growth worries, less than half of UK households predict an interest rate rise over the coming year," Markit economist Philip Leake said.