Commenting on this morning’s CPI data, Melanie Baker, senior economist at Royal London Asset Management, said:
“Inflation rose closer to the Bank of England’s target, but underneath the noise of the headline figures, domestically-driven inflation still looks weak.
“Business sentiment and the follow-through to activity data will however be the more important determinant of whether the Bank of England cut rates or not in coming months.”
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 £139 billion of assets and employs 113 investment professionals as at end July 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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