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The latest updates and articles from Arbuthnot Latham
The UK economic recovery continues, and though the latest figures show the economy remains about 8% smaller than a year ago, consumers and businesses are increasingly optimistic we will make a rapid recovery from the worst recession in three centuries.
UK housing market data this week was again stronger than expected, driven largely by the extension of stamp duty relief.
Market sentiment has weakened this week following the recent optimism, and we have moved to a more risk-averse environment.
The Bank of England kept monetary policy on hold yesterday as widely expected, saying the risks remain balanced. The committee was relatively relaxed on the recent rise in yields, whilst insisting negative rates remain in the toolbox if required.
In the US, politicians have finally agreed the $1.9tn stimulus package, which should boost the economic recovery, whilst adding to already massive government debt levels.
The UK budget has been generally well received, as the chancellor attempted to balance stimulating growth against huge government debt levels.
Global interest rates continue to rise from their historic lows, particularly longer-term rates, as optimism grows on the vaccine rollouts and the lockdown easing, and the market looks ahead to the economic recovery.
Global interest rates continue to rise from their historic lows, as optimism grows on the vaccine rollouts, and the market begins to look ahead and focus on the recovery.
The ratio of vaccinations to virus cases continues to improve and remains a positive story against a very challenging economic backdrop, ahead of what will be a very difficult budget on March 3rd.
The Bank of England had their first meeting of the year yesterday and kept monetary policy on hold as expected.
UK data this week showed the jobs market remained surprisingly resilient, with the unemployment rate at 5.0%, and average earnings increasing to 3.6%.
It is the start of a new era in the US as Biden takes the presidency and has already reversed some Trump policies.
Ruth Lea CBE
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