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.
In his first fiscal statement since becoming Chancellor, Kwasi Kwarteng hailed a “new approach for a new era” as he unveiled a series of tax cuts and other measures designed to spur economic growth.
In our economic update this month we begin by covering off the key points of Kwarteng’s mini budget. Although these are subject to change given the current climate. We then look at the increasing pressure the Bank of England’s Monetary Policy Committee is under to raise rates given the recent turn of events. We then look at global markets which continue to show negative results. Inflation figures indicate a small decline in consumer price growth although it is not thought prices will return to previous low levels for some time. Finally we look at the UK Labour Market which is seeing signs of turning.
Our update this month includes the following headlines:
- Chancellor’s Growth Plan
- Bank under rate hike pressure
- UK inflation dips slightly
- Signs that jobs boom is fading
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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.