In this forecast we look forward to 2018, with a perhaps somewhat brighter outlook for the domestic UK economy than the market consensus. Much of the commentary surrounding the UK is very negative, but looking at the data itself brings to mind the line from Russell Howard’s TV show: “It’s not all doom and gloom!”
During the last decade, there has been significant change in the investment industry. Here, we sit down with Managing Director & Chief Investment Officer David Marchant, to discuss the Canada Life Investments culture, how the business has grown over the last ten years and his team’s investment philosophy.
As expected by the market, the Bank of England (BoE) embarked on its first monetary tightening cycle in a decade last Thursday, with the Monetary Policy Committee (MPC) voting to hike interest rates to 0.50%. Although this will be some relief for long-suffering savers, rates still remain incredibly low in a historical context.
Many of the recent comments around fixed income have referred to the impact on the asset class of global monetary tightening. For example, the US Federal Reserve (Fed) and Bank of Canada (BoC) have already raised interest rates, the Bank of England (BoE) have followed suit and, in January, the European Central Bank (ECB) will begin tapering their huge quantitative easing programme.