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If the bank had credibility, they would be able to resist some — not all — of the market push for higher rates," says Gerard Lyons, chief economic strategist at Netwealth, "because the bank lacks credibility, it is responding to, not leading, the markets."
Gerard Lyons, chief economic strategist at Netwealth said, 'it may still be possible for interest rates to peak at 5.5 per cent, but that rates were unlikely to return to the historic lows seen after the financial crisis.'
Charlotte Ransom answers: How much inheritance tax will be owed on our pensions and ISAs when we die?
Iain Barnes, chief investment officer at Netwealth, says 'client interest now falls clearly into two camps.'
If the bank does push rates up as much as markets expect there will be a recession,” said Gerard Lyons, chief economist at wealth manager Netwealth."
Charlotte Ransom answers the question: 'My son wants to buy a flat within three years - what should he do with his £75k inheritance?'
The risk is that the Bank, having contributed to higher inflation, now tightens too much and delivers a recession, too. Given this, there is a strong case for a pause in the tightening cycle."
Clive Page, who is in his early 60s and lives in Warwickshire, decided to move his money to Netwealth, a low-fee discretionary wealth manager that launched in 2016. The site charges a fee of up to 0.7 per cent to manage customers’ money.
