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Inflation has been stubbornly low across major economies, struggling to hit Central Banks’ 2% target. Data released this week confirmed this trend yet again.
Investors continue to try to find parallels in history with the current US interest rate cycle with worries the current cycle could mirror 1994, when bond prices fell, as US Treasury bond yields shot upwards.
As expected, the Bank of England moved this week to raise interest rates. The 0.25% increase – the first rise in over ten years – reverses last year’s emergency rate cut, and means that the Bank of England base rate now stands at 0.5%, barely moving the dial for cash savers.
Japanese equities started the week on the front foot after the ruling Liberal Democratic Party decisively won last Sunday’s general election, making Prime Minister Abe’s position increasingly secure and adding fuel to the early momentum already seen from his economic policies, now called Abenomics