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Reaction to the Bank of England Inflation Report

August 2016

Home / Perspectives / Response to the Bank of England Inflation Report – August 2016

Neil Williams, Group Chief Economist
05 August 2016
Perspectives

Mark Carney has called Brexit a ‘large identifiable supply shock’. So, does the post-Brexit stimulus package vindicate Carney’s recession warnings and can we rule out negative interest rates? It was the first change to rates since ‘09, the BoE cut rates to 0.25% and increased their QE programme. Are these excessive measures or will a further cut be in order?

Hermes’ Neil Williams gives an overview of the Bank of England inflation report, as Carney declares that there’s a 50-50 chance of recession, we are still wandering through the unknown.

neil-williams-boe-video-aug-16

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Neil Williams Group Chief Economist Neil joined Hermes in August 2009 and is responsible for Hermes’ economic research. He has a forward-looking approach to generate investment strategy ideas. Neil adopts top-down methods – macro and market analysis to identify interest rate and credit value, and sovereign default risk. Neil began his career in 1987 at the Confederation of British Industry (CBI), becoming its youngest ever Head of Economic Policy. He went on to hold a number of senior positions in investment banks - including Director of Bond Research at UBS, Head of Research at Sumitomo International, Global Head of Emerging Markets Research at PaineWebber International, and, before coming to Hermes, Head of Sovereign Research and Strategy at Mizuho International. Neil has 29 years’ industry experience and earned an MA in Economics in 1986 from Manchester University, having the previous year completed his BSc (Hons), also in Economics, from University College Swansea.
Read all articles by Neil Williams

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