Last week, Bank of England (“BoE”) Monetary Policy Committee (“MPC”) member Alan Taylor noted that inflation appears to be heading towards normalisation, paving the way for a potential dovish shift. Governor Bailey's belief that a fall in inflation is \"baked in\" has led markets to price in an 80% chance of a 25-basis-point interest rate cut on the 19th March. The UK labour market is weakening, with job advertisements at a five-year low and youth unemployment, although above the EU average, worsened by nearly a million young Britons not in education, employment or training. Businesses and consumers fear job losses, as shown by a dip in the GfK Consumer Confidence measure, exacerbated by rising payroll taxes and minimum wage increases. Political uncertainty persists after PM Starmer's Labour Party lost the Gorton and Denton by-election to the Green Party, with Reform UK in second place...
Stocks featured:
London Stock Exchnage Group, RELX PLC and Hikma Pharmaceuticals
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