Silver linings and all that. Growth in wages is slowing, (some) inflation is down, which means interest rates are more than likely, I’d say, to come down a bit next month. Long-term, most predictors think they’ll get to and stay around 3.5%, quite a reduction from the current 5.25%. So you’ll get around 2% in the average savings account, and pay 5% for the average mortgage. Much more real-world than the super-low rates we had for so many years, which actually made the rich richer and the average hard-working family poorer. The over-the-pond situation will have a larger effect on your investments, and the interest rate direction is down there, too, which will boost markets. As will some certainty, one way or another, about who’ll be president. Both Trump and Biden would say they’re good for business, albeit in differing ways, so the consensus seems to be, worry about other stuff and not necessarily your money, whoever gets in. And we know who that’s likely to be atm.
“Is the UK recession over? Latest UK GDP stats show growth uptick in January: investment experts warn against complacency”
We have been or are, depending on your point of view or choice of statistics, in the midst of a recession. The faint glimmer at the end of a long tunnel is that the economy apparently grew in January, although 0.2% isn’t exactly storming ahead.
