NEWS:

"While people on the verge of buying annuities or trying to build up their personal savings have been buffeted for a number of years, a rise in the Bank of England's Base Rate is unlikely any time soon. This is because, despite rising economic growth and employment, persistent economic weaknesses remain including high levels of household indebtedness, falling real incomes and underemployment. And crucially, the economic recovery is still not secured – indeed, we are only now approaching our pre-crisis level of output. The Bank will want to see significant progress on all of these fronts before committing to a gradual rise in rates.

The UK is not alone in having to confront the unwinding of extraordinary monetary support. The US faces a bigger task as they are still committed to monetary stimulus in the form of asset purchases (to the tune of $65bn per month). How markets and economies around the world respond as it starts to slow these purchases could impact asset prices around the world for some time to come."    


ILC-UK have today published a blog: "Base rate: to raise or not to raise" http://blog.ilcuk.org.uk/2014/03/04/base-rate-to-raise-or-not-to-raise/

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