Market reaction to the new UK Prime Minister

Published  25 October 2022
   1 min read

Commenting on the new UK Prime Minister Rishi Sunak, RLAM Head of Multi Asset Trevor Greetham said:

"Rishi Sunak becomes Prime Minister at a time of high inflation and great economic uncertainty. While a more orthodox approach to fiscal policy should calm the bond markets, the prospect of public spending cuts as the Bank of England raises interest rates will do nothing to ease recession fears.

"The UK is the only G7 economy with GDP still below its 2019 peak after the hard Brexit and Covid 19 shocks.

"Improving trading relations with Europe and dealing with the supply side after effects of the pandemic should be top priorities for the new administration. Sustainable growth is the best route to sustainable public finances."

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About Royal London Asset Management (RLAM):

Established in 1988, Royal London Asset Management (RLAM) is one of the UK's leading fund management companies, providing investment management solutions to both wholesale and institutional clients such as not-for-profit organisations, local authorities and the insurance sector.

RLAM manages £150 billion of assets as at 30 June 2022. It invests in all major asset classes including UK and overseas equities, government bonds, investment grade and high yield corporate bonds, property and cash.

For professional clients only, not suitable for retail investors.

Issued August 2022 by Royal London Asset Management Limited, registered in England and Wales number 2244297; authorised and regulated by the Financial Conduct Authority. Registered Office: 55 Gracechurch Street, London, EC3V 0RL.

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