In this analysis, Ben Needham, portfolio manager in Ninety One‘s Quality team, is looking ahead to the first BoE interest rate decision of the year, and what it means for UK equities in 2024.
UK equities should not be feared
“Since 2016 we have had Brexit, a pandemic, a free money stimulated bull market, rampant inflation, a record-breaking pace of interest rate increases, a local conflict in Europe, a property crash in China, a local conflict in the Middle East, and a Tory government changing their leadership a remarkable four times. Leicester City also managed to win the Premier League title, but now find themselves in the Championship. In this context, when predicting the direction of travel for interest rates and/ or the UK economy we are minded to whisper, as opposed to shout. Our whisper is that rates remain on hold with the BoE essentially giving themselves time for the economic and…
