Will He….? Won’t He….? – Monday Musings 22/11/2021
Our good friend Andrew Bailey, he who runs the Bank of England says that he feels that it is not fair that he is upset that people have said that he is an “unreliable boyfriend” in other words he gives forward guidance and then changes his mind. This is of course one of the issues that impacts on all of us when it comes to planning how we deal with any changes to interest rates. I do think that he will have to increase rates at the next monetary committee meeting as inflation which is at a ten year high will give them little if any room to manoeuvre. The only real debate is what the rate will move to. My best guess is that it will go to 0.75%. This sounds like a big jump, but I think that it is inevitable.
Markets around the world have had an interesting week with the FTSE100 going backwards by nearly 2%. In the USA the NASDAQ moved ahead while the Dow Jones slipped. In the Far East, except for the HANG SENG, the markets had a good week as did the main European exchanges.
|04.01.2021||22.11.2021||% Change||% Change on week|
|FTSE 100||6571.80||7223.57||Up 9.92||Down 1.69|
|Dow Jones||30105.26||35601.98||Up 18.25||Down 1.38|
|Nasdaq||12696.74||16057.44||Up 26.47||Up 1.24|
|S&P||3695.49||4697.96||Up 27.11||Up 0.32|
|NIKKEI||27228.07||29745.87||Up 9.24||Up 0.46|
|Hang Seng||27431.07||25049.97||Down 8.68||Down 1.10|
|Shanghai||3502.13||3560.37||Up 1.65||Up 0.60|
|CAC 40||5584.96||7112.29||Up 27.36||Up 0.29|
|DAX||13733.08||16159.97||Up 17.66||Up 0.41|
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