Our monthly Economic Review is intended to provide background to recent developments in investment markets. The bulletin also gives an indication of how some key issues could impact in the future.
Last month, the Bank of England (BoE) sanctioned a further increase in its benchmark interest rate as inflation continues to surge significantly ahead of the Bank’s target level.
In our economic update this month we look at the Bank of England’s decision in more detail including the inflationary data and what might lay ahead, as price pressures continue to squeeze household budgets. Our next section looks at how the OBR feels this will impact on economic growth. We then look at markets which have had a volatile quarter but have finished up in the majority of cases overall. Next we cover the continuing positive employment data and how wages are moving compared to inflation. Finally we run through UK retail sales.
Our update this month includes the following headlines:
- Bank Rate raised again
- OBR downgrades growth forecast
- Unemployment below pre-pandemic rate
- Retail Sales decline
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It is important to take professional advice before making any decision relating to your personal finances. Information within this newsletter is based on our current understanding of taxation and can be subject to change in future. It does not provide individual tailored investment advice and is for guidance only.