A loosening in fiscal policy next year ahead of a possible election in late 2024 is another reason to think that the Bank of England will keep rates at their current level of 5.25% until late in 2024. And a tightening in fiscal policy in 2025 will contribute to rate cuts in 2025 being faster and larger than investors currently anticipate.
Note: We’ll be discussing how the UK’s green intentions are being constrained by political realities and what’s needed to change this in a UK climate policy Drop-In on Thursday 28th September at 3pm BST. Register here to join.
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