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Growth picked up in the first quarter of the year, led by broad-based increases across the services sectorThe latest figures from the Office for National Statistics (ONS) show that the UK economy grew by 0.3% in March, following growth of 0.4% in February and no growth in January. This came as a surprise to many analysts, who had expected a small contraction as it was the first full month following the Middle […]
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“The strong growth seen earlier this year was a one-off and underlying conditions remain fragile”The UK economy grew modestly in Q2, with gross domestic product (GDP) increasing by 0.3% according to the Office for National Statistics (ONS). While this is a slowdown from Q1 (0.7%), it is more positive than City economists’ and the Bank of England’s predictions of 0.1% expansion. The economy performed better than expected in June […]
Market Commentary
We will do what it takes to return inflation to our 2% targetThe Bank of England (BoE) cut Bank Rate from 4.25% to 4% at its August meeting last week, the fifth reduction since August 2024. It seems that it wasn’t an easy decision, as it took two rounds of votes for the Monetary Policy Committee (MPC) to reach a majority. Ultimately, five MPC members supported the […]
Market Commentary
The world economy is still hurtingThe International Monetary Fund (IMF) has predicted global economic growth of 3% in 2025 and 3.1% in 2026. This is an upward revision from the IMF’s forecast in April, partly due to recent front-loading in anticipation of higher tariffs. Easier financial conditions and fiscal expansion in some major jurisdictions also contributed to the improved outlook. […]
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Britain is open for businessAfter more than three years of negotiations, Britain has sealed a trade deal with India which is set to boost the economy by £4.8bn a year. The agreement includes reduced tax on Indian exports such as cars, clothing, food and jewellery. UK exports with lower tariffs include medical devices, aerospace parts, luxury cars, gin and […]
Market Commentary
This surprise uptick in CPI to 3.6% is a disappointment for households and businessesThe latest Consumer Prices Index (CPI) data from the Office for National Statistics (ONS) has shown an unexpected rise of 3.6% in the 12 months to June, up from 3.4% in the 12 months to May. This annual CPI rate is the highest recorded since January 2024, with a poll of economists predicting the rate […]
Market Commentary
Our focus remains on maintaining financial stabilityKey findings from the Bank of England’s (BoE’s) Financial Stability Report, released last week, have shown that the global risk outlook has become increasingly uncertain following recent geopolitical shocks which have resulted in heightened volatility in financial markets. Since the last report in November, global vulnerabilities have increased, with elevated risks to growth and inflation, […]
Market Commentary
The world ahead is more uncertainInvestors turned their attention to Sintra, Portugal last week, for the European Central Bank’s (ECB) Annual Forum. Key monetary policymakers from around the globe, including Federal Reserve Chair Jerome Powell, ECB President Christine Lagarde, Bank of England (BoE) Governor Andrew Bailey and Bank of Japan Governor Kazuo Ueda, gathered together to exchange insights and strategies […]
Market Commentary
Realistic pricing will remain key in the coming monthsAverage asking prices dipped by 0.3% in June, according to Rightmove’s June 2025 House Price Index. The dip suggests an unusual seasonal decline as sellers respond to heightened competition and affordability pressures. The £1,277 drop brings the average new seller asking price to £378,240, reversing the record highs seen in April and May. Rightmove noted […]
Market Commentary
The world is highly unpredictableLast week, the Bank of England (BoE) retained Bank Rate at 4.25%. The BoE’s Monetary Policy Committee (MPC) was split, with three members voting for a 0.25 percentage point cut to 4% and six members supporting no change. Despite the decision, BoE Governor Andrew Bailey insisted rates are on a “gradual downward path” before adding, […]
Market Commentary
Weekly Market Commentary 18.06.2025“We are renewing Britain” Last week, Rachel Reeves presented her Spending Review to set out day-to-day spending for the next three years and capital spending plans for the next four years. Stating her focus was on the nation’s health, security and economic growth, the Chancellor took to the dispatch box saying, “We are renewing […]
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Weekly Market Commentary 11.06.2025‘The global outlook is becoming increasingly challenging’ Global GDP growth is projected to slow to 2.9% this year and next year, according to the latest Economic Outlook released last week by the Organisation for Economic Co-operation and Development (OECD), down from 3.3% in 2024. The report highlights that barriers to growth, including tighter financial […]
Market Commentary
Weekly Market Commentary 04.06.2025‘An economic recovery is underway’ The UK economy is expected to grow faster than previously thought next year, according to the International Monetary Fund (IMF), but the government faces growing pressure to balance its books. In its latest review, IMF forecasts UK growth of 1.2% in 2025, up from April’s 1.1% projection, and 1.4% in […]