After listening to today’s budget statement I think I finally understand Jimmy Kennedy’s “Hokey Pokey.” It wasn’t written for kids. It’s a budget statement guidebook. You put something in. You take something out. You put that first thing back in and then shake it all about so that everyone can see it. Then you turn around on everyone and do it all over again.
“Investors en masse have turned their lives around during this latest bull market run. They used to be depressed and miserable. Now they’re miserable and depressed.” (With apologies to David Frost)
Unfortunately, market nirvana is almost always either a day away or the day we missed. And when it comes to investing, “perfect” is always the enemy of good.”
Our current amoeba-sized 0.25% base bank rate will simply increase to the dizzying heights of 0.5% – an historically low figure that we eventually arrived at in 2009, and abandoned briefly back in August 2016, as the severity of the financial crisis began to hit home.