Last week saw the Bank of England ("BOE") stand firm on its key rate, leaving interest rates unchanged at 5.25% and dismissing talks of imminent rate cuts, a day after the Federal Reserve signalled its intention to cut rates in 2024. BOE Governor Andrew Bailey emphasised the ongoing fight against inflation, challenging investors who had increasingly bet on rate cuts. Despite BOE warnings, traders remained unfazed, forecasting interest rates of 4% by the end of the next year, as reported by The Times. Contrary to market expectations, The Times also reported that the Confederation of British Industry (“CBI”) predicts that the BOE will not cut interest rates until 2026 due to persistently high inflation. The CBI outlook suggests that the base rate will stay at 5.25% for at least two more years, impacting consumer spending and business investment. The CBI's growth forecast of 0.8% in the UK for the coming year underscores concerns about the prolonged impact of elevated interest rates on the economy... Stocks featured: Currys, Chemring Group and Entain To find out more about the investment management services offered by Walker Crips, please visit our website: https://www.walkercrips.co.uk/ This podcast is intended to be Walker Crips Investment Management’s own commentary on markets. It is not investment research and should not be construed as an offer or solicitation to buy, sell or trade in any of the investments, sectors or asset classes mentioned. The value of any investment and the income arising from it is not guaranteed and can fall as well as rise, so that you may not get back the amount you originally invested. Past performance is not a reliable indicator of future results. Movements in exchange rates can have an adverse effect on the value, price or income of any non-sterling denominated investment. Nothing in this podcast constitutes advice to undertake a transaction, and if you require professional advice you should contact your financial adviser or your usual contact at Walker Crips. Walker Crips Investment Management Limited is authorised and regulated by the Financial Conduct Authority and is a member of the London Stock Exchange. Hosted on Acast. See acast.com/privacy for more information.