Commenting on today’s interest rate decision by the Bank of England, Melanie Baker, senior economist at Royal London Asset Management, said:
“The Bank of England again signalled that households should expect a rate rise, not rate cut, in the next year or so. UK activity data has been mixed and Brexit-affected; measures of underlying domestic inflationary pressure don’t paint a consistent picture. Alongside Brexit uncertainty, this gives them a good excuse to stay on hold for now. However, if they turn out to be right on the economy, the clear signal from the MPC today was that the policy interest rate will need to rise above 0.75%.”
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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 £148 billion of assets and employs 121 investment professionals as at 31 December 2020. 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 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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