July 2023 - Monthly House Views
Waiting for the Pause
Markets are now pricing in a forthcoming pause by central banks, notably for the US Federal Reserve. Headline inflation has continued to come down in most economies, in line with producer prices, but core inflation is proving more stubborn against a backdrop of still solid labour markets. This is especially true in the UK, where the Bank of England is now expected to continue raising rates to 6%, maintaining a much more hawkish stance than its US and Eurozone peers. What does this mean for investors and how does it impact our asset allocation?
Learn more in our July 2023 House Views by clicking on the document below.