World markets are expecting a rate increase from the Bank of England for some time now. The probability for a rate increase of 0.25% is at 52%. This will raise current rates of 0.50% up to 0.75%.
Mark Carney, Governor of Bank of England has been sending differing signals to the market by emphasizing spare capacity in pay growth within England.
This is similar to the chant coming from Janet Yellen of the Federal Reserve concerning American rates. If pay growth is lax, increasing rates would not benefit the economic picture. Consumer prices are supporting a no increase stance while remaining below the 2% target. British 10 year gilts (bonds) are yielding 2.80%.