Press comment: BoE appear worried by global growth, not just Brexit and hedge funds


If you are covering the Bank of England’s decision to hold interest rates at 0.75%, please find below commentary from Hinesh Patel, portfolio manager at Quilter Investors:

“In what is probably the second biggest story to come out of the Bank of England today, we have seen rates remain on hold once again as policy makers stay in a wait and see mode. This familiar holding pattern is likely to continue for some time as we await detail on what the future relationship with the European Union looks like. However, it is clear from the Bank that it is not just Brexit, or the hedge funds, that Mark Carney and co seem to be concerned about. They have specifically referenced the need to act on interest rates should global growth fail to stabilise and ease to help boost UK GDP and inflation.

“With ratification of the US-China trade deal remaining a large obstacle to global growth and the President now officially undergoing impeachment proceedings, 2020 is looking like it could see a return to volatile markets. It feels like next year could see the Bank of England be a little more active in the monetary policy space, something investors will need to watch and listen to closely.”

 

Notes to Editors:

About Quilter plc:

Quilter Investors is part of Quilter plc. It provides multi-asset investment solutions designed for advised clients in the UK and internationally and manages £20.3 billion on behalf of its investors (as at 30 September 2019).

Quilter plc is a leading wealth management business in the UK and internationally, helping to create prosperity for the generations of today and tomorrow.

Quilter plc oversees £118.7 billion in investments (as at 30 September 2019).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial advice business, Quilter Financial Planning; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business.

Wealth Platforms includes Old Mutual Wealth UK platform; Old Mutual International, including AAM Advisory in Singapore; and the Old Mutual Wealth Heritage life assurance business.

The Quilter plc businesses are being re-branded as follows: 

  • Quilter Financial Planning (previously Intrinsic)
  • Quilter Private Client Advisers (previously Old Mutual Wealth Private Client Advisers)
  • Charles Derby Group (becoming Quilter Financial Advisers)
  • Quilter Financial Adviser School
  • Quilter Cheviot
  • Quilter Investors
  • Old Mutual Wealth (becoming Quilter Wealth Solutions in 2020)
  • Old Mutual International (becoming Quilter International in 2020)

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