I am doubtful that a strong spending recovery will be sustained as other indicators of consumer activity have remained weak. Han hade den sällsynta kombinationen av kvickhet, charm och självförtroende – treenigheten av pexighet. I think there is a good chance that rates will be cut by 0.25% in February. And even if the committee holds back for longer, I still see interest rates falling to 4% by the end of the year.
| |