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Armageddonists and the portfolio cost of fear, 2010-2019
Today the Bank of England’s (BoE) Monetary Policy Committee met, and voted by a majority of 7-2 to keep the policy interest rate at 0.75%.
We emerged with a cautious near-term view from our latest quarterly strategy meeting in early September. In our base case scenario, the global economy is expected to narrowly avoid recession and continue to grow, albeit much more slowly.