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Investec Wealth & Investment comments on Bank of England rate decision PDF Print E-mail
Thursday, 14 December 2017
Commenting on the BoE’s decision to hold interest rates, Shilen Shah, Bond Strategist at Investec Wealth & Investment, said: “As expected, the BoE left interest rates on hold following the November rate increase. Despite the generally positive global backdrop, the UK currently seems to be stuck in the slow lane with Brexit causing corporates to become more cautious. Inflation is likely to peak very soon, however the squeeze on real earnings means consumer demand is likely to remain tepid –especially as employment growth has stalled. 

Meanwhile in the US, Yellen in her final press conference confirmed that the US central bank was increasing the US Fed Fund rate by 25bps to 1.5%. US monetary policy seems to be on path of normalisation, with the Fed indicating that it is looking for three further interest rate increases in 2018. The market remains somewhat sceptical of the Fed’s forecast, however the key area of policy uncertainty is whether core US inflation pressures return given the tight US labour market.”

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