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Countdown to a December interest rate cut
The case for a December Bank of England (“BoE”) rate cut strengthened significantly last week, as a string of data pointed to a stalling economy and a rapidly cooling labour market. Third quarter gross domestic product (“GDP”) growth fell short of expectations at just 0.1%, with the lack of momentum reflecting continued weakness. Further to this, UK unemployment figures rose to 5%, the highest since 2021, prompting traders to price in an 80% chance of a BoE rate cut in December. In addition, UK wage growth is stalling, with a recent KPMG/Recruitment and Employment Confederation survey showing near 4-year lows, indicating to the BoE that wage pressures are easing. All eyes will now be on Wednesday's inflation data, forecast to ease to 3.6%, which would support the case for a more dovish BoE...
Stocks featured:
3i Group, SSE and Vodafone Group
To find out more about the investment management services offered by Walker Crips, please visit our website:
https://www.walkercrips.co.uk/
This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.
Hosted on Acast. See acast.com/privacy for more information.
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By Walker Crips Investment Management Limited
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The case for a December Bank of England (“BoE”) rate cut strengthened significantly last week, as a string of data pointed to a stalling economy and a rapidly cooling labour market. Third quarter gross domestic product (“GDP”) growth fell short of expectations at just 0.1%, with the lack of momentum reflecting continued weakness. Further to this, UK unemployment figures rose to 5%, the highest since 2021, prompting traders to price in an 80% chance of a BoE rate cut in December. In addition, UK wage growth is stalling, with a recent KPMG/Recruitment and Employment Confederation survey showing near 4-year lows, indicating to the BoE that wage pressures are easing. All eyes will now be on Wednesday's inflation data, forecast to ease to 3.6%, which would support the case for a more dovish BoE...
Stocks featured:
3i Group, SSE and Vodafone Group
To find out more about the investment management services offered by Walker Crips, please visit our website:
https://www.walkercrips.co.uk/
This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority (FRN: 226344) and is a member of the London Stock Exchange.
Hosted on Acast. See acast.com/privacy for more information.