Updated: Feb 10, 2022
Should the Bank of England raise rates this week? Views from financial planners and brokers
This was my response & great to be featured in IFA Magazine.
Adrian Kidd, chartered wealth manager at Aylesbury-based EQ Financial Planning: “The Bank of England should raise rates and it will. Central banks have been slow off the mark due to Covid but some upward motion to rates is long overdue. Care is needed, however, as we saw last week how easy it is to spook markets with significant volatility in the US. Central banks find themselves in a pickle as moving too aggressively and too quickly could mean a recession ensues. The balancing act is immense. A lot of mortgage holders are on fixed rates so this shouldn’t have too much of an impact right now. But rates being 1% higher in a year’s time could mean some future pain for borrowers, especially if they have already stretched themselves to the limit.”
Also I am Featured in the Independent & The Financial Reporter.