NEW YORK (TheStreet) -- The Bank of England released its latest meeting minutes Wednesday showing committee members voting unanimously to keep rates steady. Investment Manager David Battersby at Redmayne-Bentley said he expects the rates will remain at the current level until next spring.
Battersby says he does not expect the committee members to remain unanimous in the months ahead, citing two members wavering at the last meeting.
The central bank's confident inflation forecast will remain on track, Batttersby said, noting the country is dealing with a "bout of deflation" due to food and energy prices resulting from falling oil prices. "Once that washes through, the inflation figure will get back to 2%."
The release of the minutes had been delayed by the recent UK elections. Battersby said of the rate increase the BOE "simply kept them out of the election period we had here." He added the Conservative Party is generally considered to be more favorable to business and likely to have a positive impact on the economy and the market.
Battersby said that although the Federal Reserve has been preparing the market for an increase in U.S. interest rates, it is starting from such a small base rate he believes Fed Chair Janet Yellen and others are "gearing markets up that you can't live on low interest rates forever."
The big theme in markets globally is the hunt for yield, he said. Battlersy cited new funds concentrating on high yield through cash flow from high-yield debt, infrastructure debt and infrastructure equity.