Rates held as factory output falls - Papers 14 January

clock

The Bank of England yesterday maintained interest rates unchanged for the fifth month as official figures revealed a surprise drop in British factory output and evidence suggesting retailers suffered a poor Christmas, writes the Daily Telegraph.

The Telegraph says some economists believe the base rate has peaked at 4.75%, and the next move will be downwards. Factory output figures from the Office for National Statistics revealed an unexpected fall of 0.1% in November, matching the unrevised fall for October, confounding economists' expectations of a 0.3% rise. The level of manufacturing output was unchanged on the year. Economists say the data provides further evidence to the Bank rates do not need to go up again, while pointing to cooling in the housing market as a reason for further downward pressure on rates. Meanwhile, th...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Advisers expecting more of asset managers since Consumer Duty

Advisers expecting more of asset managers since Consumer Duty

‘We actually need to understand one another better’

Hope Coumbe
clock 28 March 2024 • 1 min read
Fears tech limitations could stall MPS on its upward trajectory

Fears tech limitations could stall MPS on its upward trajectory

‘There have been a few changes and challenges around growth in general’

Hope Coumbe
clock 27 March 2024 • 1 min read
Partner Insight: Beyond 60/40

Partner Insight: Beyond 60/40

Invesco
clock 27 March 2024 • 5 min read