BOE to Keep Rates High as Inflationary Warnings Abound -- Market Talk

Dow Jones11-20

0755 GMT - The rise in U.K. inflation coupled with global inflationary pressures from President-elect Trump's trade tariffs and tax policies are likely to result in higher interest rates for longer, says Manx Financial Group CEO Douglas Grant. The annual rate of inflation rose to 2.3% in October from 1.7% in September. Those price pressures could be compounded by the U.K. finance chief Rachel Reeves's fiscal measures in her budget, he says in a note. Still-high rates will exert significant pressure on businesses, keeping them hesitant to invest and requiring firms to adapt their lending strategies to withstand market uncertainty. "Achieving this requires focused efforts by the Labour government to improve credit access while managing inflationary pressures," Grant says. (edward.frankl@wsj.com)

(END) Dow Jones Newswires

November 20, 2024 02:55 ET (07:55 GMT)

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Still-high rates will exert significant pressure on businesses, keeping them hesitant to invest and requiring firms to adapt their lending strategies to withstand market uncertainty. \"Achieving this requires focused efforts by the Labour government to improve credit access while managing inflationary pressures,\" Grant says. 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