Last week saw various economic developments, including the National Institute of Economic and Social Research (“NIESR”) publishing its forecast, predicting a slower interest rate cut cycle by the Bank of England than the market expects. NIESR anticipates that economic recovery will accelerate, prompting the BoE to maintain higher interest rates for a longer period. The Bank of England's interest rate is expected to decrease gradually, reaching 4.6% in 2025 and 4.1% in 2026, before bottoming out at 3.1% in 2028. Additionally, economists are divided on the BoE's next rate cut, with mixed views on the timing and size of potential easing, though domestic inflationary pressures seem to be receding.
Stocks featured:
Beazley, Hikma Pharmaceuticals and Spirax Group
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