Last week, Bank of England policymakers faced renewed monetary tightening expectations, especially as Chief Economist and Monetary Policy Committee member Huw Pill voted for rate hikes in four consecutive decisions, arguing that resilient quarterly growth of 0.4% in June supports higher interest rates. While Bank of England Governor Andrew Bailey had previously downplayed the possibility of rate cuts, comfortable leaving rates on hold, money markets now fully price further increases and anticipate upcoming hikes if oil prices continue to rise. UK Gross Domestic Product surprised on the upside in June by expanding 0.3% against expectations for a 0.1% contraction. This performance was driven by a notable 0.4% recovery in the services sector, with the UK Purchasing Managers' Index reaching a three-month high of 52.1, while total retail sales rose 1.3% in July, supported by a 10% surge in pub transactions....
Stocks featured:
Antofagasta, Computacenter and Lion Finance 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.
","author_name":"Walker Crips Investment Management Limited"}