Thomas Carroll’s Wealth Management team, in conjunction with our research partner, Square Mile, have issued a review of the current situation regarding interest rates.
The annual inflation rate jumped more in August than at any time since the Bank of England (BoE) was granted independence. Analysts expect the rate to rise from the 3.2 per cent last month to peak at over 4 per cent in the winter.
Until recently, the Monetary Policy Committee (MPC) which has responsibility for setting interest rates was undecided whether the conditions were right for tightening monetary policy. After last week’s data on both inflation and labour, it might now be the time that the Bank starts to gently tighten monetary policy.
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