By Michael Browne, CIO of Martin Currie
We can point to a myriad of factors: Global and domestic political uncertainty has been front and centre: from Putin to Truss, from the Middle East to Taiwan.
For the first time in 15 years, you have a real return from short term interest rates as central banks squeeze the inflationary shock from the system. Why bother with anything else? Can the economy survive these rates without a recession? The recent UK election was fought and won under the slogan “stop the chaos” and “change and rebuild” not hope and prosperity.
Since then, the PM and his Chancellor have gone out of their way to explain how things are much worse than they thought and have raised the prospect of significant taxes on wealth and savings because they have ruled out taxes on incomes.
Confidence is key to help prime UK recovery
The key determinant of UK is confidence: And that sits firmly in…
