Greasing the wheels of asset allocation

Although it is likely forward contracts look set to work their power on the wholesale and retail gas and oil markets in the UK over the next 90 days – that is: prices will remain high on utilities bills and petrol forecourts, even if the spot price continues to fall in sterling terms – what happens some three months from now should be further fodder for the doves at the MPC setting interest rates for all of us. True, many in the City are still pricing in a final 25 basis points increase in the base rate before the current monetary policy cycle changes gear and rates start heading south for...