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The global economy has proved more resilient than expected this yearThe Organisation for Economic Co-operation and Development (OECD) has released its latest Economic Outlook, setting out projections for global growth over the coming years. According to the report, global economic growth is expected to slow from 3.2% in 2025 to 2.9% in 2026 due to higher tariff rates temporarily impacting trade and investment. However, once […]
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Market Commentary
This Budget will bring down inflation and provide immediate relief for familiesThe Chancellor delivered her second Budget last Wednesday, which included a number of tax and spending measures, estimated to raise £26bn in taxes by 2029/30. In her opening remarks, Rachel Reeves said “This Budget will bring down inflation and provide immediate relief for families,” before adding that she was choosing to deliver “a Budget for […]
Market Commentary
Price pressures are gradually subsidingThe latest figures from the Office of National Statistics (ONS) show that inflation fell to 3.6% in October, the lowest level in four months. While this is down slightly from 3.8% in September, it remains significantly above the Bank of England’s target of 2%. The largest downward contribution to inflation came from housing and household […]
Market Commentary
This month’s Budget is a make-or-break moment for businessThe Office for National Statistics (ONS) has released the final GDP figures ahead of the Autumn Budget. The data shows that economic growth was slower than expected in Q3 as GDP increased by only 0.1%, a slowdown when compared with 0.3% in the previous quarter. Analysts had predicted growth of 0.2%, so this lower figure […]
Market Commentary
We still think rates are on a gradual path downwardsLast week, the Bank of England (BoE) voted to hold Bank Rate at 4% for the second consecutive meeting. It was a tight decision, with five members of the Monetary Policy Committee (MPC) voting to retain the rate, while the remaining four favoured a 0.25% reduction. In October, the annual inflation rate remained at […]
Market Commentary
Each of us must do our bit for the security of our country and the brightness of its futureChancellor Rachel Reeves took to the Downing Street podium on Tuesday morning, in a rare pre-Budget speech, during which she said that she would do what is necessary, not popular, to protect the country against high interest rates and inflation. With the Budget fast approaching on 26 November, while the Chancellor did not announce any […]
Market Commentary
The Chancellor must use the upcoming Budget to tackle rising prices head onThe latest inflation figures from the Office for National Statistics (ONS) show that the UK Consumer Prices Index (CPI) rose by 3.8% in the 12 months to September, a lower figure than a Reuters poll of economists had expected (4%) and unchanged from August and July. Prices are still rising compared with a year ago, […]
Market Commentary
We will continue to prioritise economic and fiscal stabilityLatest data from the Office for National Statistics (ONS) indicates that the economy experienced a slight expansion of 0.1% in August. In the three months to August, GDP increased by 0.3% – this is a slight improvement on the three months to July, which saw expansion of 0.2%. The services sector was the main driver […]
Market Commentary
A relatively lower mortgage rate environment and steady wage growth have helped support buyer confidenceThe latest data from Halifax shows that house prices decreased by 0.3% month-on-month in September, following an increase of 0.2% in August. Meanwhile, the annual growth rate eased from 2.0% to 1.3%, the slowest rate since April 2024. The average property is currently priced at £298,184. Regionally, Northern Ireland continues to see the fastest rate […]
Market Commentary
If the UK economy is not competitive then it cannot growAhead of the Autumn Budget on 26 November, the British Chambers of Commerce (BCC) has urged the government to take decisive action to improve the competitiveness of the UK economy. In a new report the BCC warned that, without increasing investment and productivity, the UK risks falling further behind its international peers. In 1997, the […]
Market Commentary
Finding the right balance in uncertain timesThe Organisation for Economic Co-operation and Development’s (OECD’s) latest Economic Outlook, released last week, projects global growth of 3.2% this year, easing to 2.9% by 2026, following growth of 3.3% in 2024. The slowdown reflects the drag from rising tariffs and persistent policy uncertainty, which are weighing on trade and investment. The report, ‘Finding the […]
Market Commentary
We’re not out of the woods yetThe Monetary Policy Committee (MPC) voted to retain Bank Rate at 4% during its September meeting last week, following a 0.25 percentage point cut in August. This outcome was in line with expectations, as last week’s data from the Office of National Statistics (ONS) found that inflation remained at 3.8% in August. The MPC outline […]
Market Commentary
In the latest month, GDP showed no growth, with increases in services and construction offset by falls in productionThe latest figures from the Office for National Statistics (ONS) show that the UK economy flatlined in July, with no growth recorded. This is in line with expectations and follows gross domestic product (GDP) growth of 0.4% in June. ONS highlighted that monthly growth rates can be volatile, so it recommends referring to the three-month […]