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 announced a pause in its long run of interest rate rises following an unexpected dip in the UK headline rate of inflation and ‘increasing signs’ that higher rates were starting to hurt the real economy.
In our economic review this month we begin by looking at the Monetary Policy Committee (MPC)’s recent decision along with the most up to date data. We then run through the statistics on the UK economy and discuss its outlook. Our market data shows indices remain down in the main, apart from the FTSE100. We then have some positive news from the UK in relation to the Retail sector. Finally we look at government borrowing.
Our update this month includes the following headlines:
- Rate-hike pause as inflation dips
- UK economy contracts in July
- Retail sector shows sign of recovery
- Chancellor downplays tax-cut hopes
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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.