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Household incomes suffering from Bank's caution - ArchOver CEO PDF Print E-mail
Thursday, 14 December 2017
The Bank of England’s latest interest rate decision is a damp squib. We need a bolder approach to monetary policy to drive down inflation and break UK households out of the cycle of low wage growth and poor returns on savings. 

Following today’s announcement, Angus Dent, CEO, ArchOver said: “This decision ends 2017 on a damp squib. The Bank of England’s approach is too slow. We need a bolder approach to monetary policy in the new year.

“Rather than playing wait-and-see, the Bank should emulate the US Federal Reserve and use interest rates as a tool to combat the growth in inflation currently squeezing British incomes.

“At a time of low wage growth, UK households need a funding boost. It’s clear that 2018 is going to be a rocky road for the UK economy as we navigate the final stages of Brexit. With rates staying low for the foreseeable future, UK investors and savers need to take matters into their own hands.

“Instead of waiting for the Bank to hand them better returns, they need to take the initiative and look for high-yield investment options themselves. As Mark Carney continues to tread gingerly, individuals need to broaden their portfolios to make sure they’re making the most of their money.”
 

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