Although the global economy continues to face significant headwinds, statistics released during the first few months of this year have revealed unexpected signs of resilience. This has led economists to begin upgrading growth forecasts, while the World Economic Forum’s latest Chief Economists Outlook reported signs of ‘nascent optimism.’ Growth stronger than expected Uncertainty undoubtedly continues […]
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News in Review
“British pensioners should benefit from British business success” Chancellor Jeremy Hunt announced a package of reforms designed to boost pensions and increase investment in British businesses, in his first Mansion House speech which took place on Monday evening. He stated that the Mansion House Reforms aim to secure the best possible outcome for pension savers, […]
Mixed signals in housing and mortgage markets
Activity in the housing and mortgage markets is hotting up – and cooling down. According to the latest Residential Market Survey from the Royal Institution of Chartered Surveyors, a run of thirteen successive negative monthly readings for new instructions ended in May, marking the strongest reading for new listings since March 20211. Yet house prices […]
Making purposeful financial decisions to combat inflation
The upsurge in inflation over the last year or so has again vividly highlighted the devastating impact sharply rising price levels can wreak on people’s finances. Carefully reviewing your financial choices now, though, can ensure you continue making appropriate decisions that will help to stop inflation leaving a lasting impression on your financial future. A […]
Pensions – what’s changing?
During the Spring Budget the Chancellor announced several changes to pensions including increasing the Annual Allowance and the Money Purchase Annual Allowance. The changes, the most significant since pensions freedoms in 2015, have largely been met with positivity, bringing greater flexibility and opportunity. Some higher-paid workers faced additional tax bills as a result of building […]
News in Review
“These measures should offer comfort to those who are anxious about high interest rates” Last week, around 85% of lenders operating in the UK’s mortgage market signed a government Mortgage Charter agreeing to support borrowers, following a meeting with the Chancellor to discuss the impact of rising mortgage rates on homeowners. The Charter includes allowing […]
Where are house prices most protected?
In a housing downturn, not all cities and towns are equal. New research1 has highlighted which areas of the UK are the most resilient in the face of falling prices. On the slide In January, overall property prices fell for a fifth consecutive month, as the market continued to cool. Sliding prices have been brought […]
Green home improvements on hold
Homeowners are delaying improvements to the sustainability of their homes, according to the latest ‘Greener Homes Attitude Tracker’ from Natwest1, as cost-of-living difficulties remain. Cost-of-living delay More than a quarter of homeowners indicated they are less inclined to implement energy saving measures in the upcoming 12 months amid enduring financial concerns. In the three months […]
Economic Review – June 2023
Inflation persistence forces rates higher The Bank of England (BoE) has sanctioned another hike in its benchmark interest rate after citing ‘significant upside news’ which suggests inflation is likely to take longer to fall back to the Bank’s target level. Following its latest meeting, which concluded on 21 June, the BoE’s nine-member Monetary Policy Committee […]
News in Review
“If we don’t raise rates now, it could be worse later” Last Thursday, the Bank of England (BoE)’s Monetary Policy Committee (MPC) voted to increase Bank Rate to 5%, a half percentage point rise that caught many economists by surprise. After a thirteenth consecutive rise, Bank Rate is now higher than at any point since […]
