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The Impact of a ‘Personal View’

The Impact of a ‘Personal View’

In my recent Investment Letter that was published last week, I questioned the need for an interest rate rise and also Bank of England governor Mark Carney’s apparently knee-jerk comment during a speech last month at Lincoln Cathedral about raising rates around the turn of the year, in sharp contrast to more vague comments he had made two days earlier.

Sure enough, today, following an inflation report that showed price pressures remained very subdued, he admitted that his speech had reflected only his “personal view”. I’m all for greater transparency, but not if it means greater confusion.

The timing of the first interest rate rise is hugely important for so many people both inside and outside the financial industry.

Perhaps Mr Carney should keep his personal views to himself.

Important Information

Past performance is not a guide to future returns. The views expressed are those of Peter Elston at the time of writing and are subject to change without notice. They are not necessarily the views of Seneca Investment Managers and do not constitute investment advice. Whilst Seneca Investment Managers has used all reasonable efforts to ensure the accuracy of the information contained in this communication, we cannot guarantee the reliability, completeness or accuracy of the content.

Seneca Investment Managers Limited is authorised and regulated by the Financial Conduct Authority and is registered in England No. 4325961 with its registered office at Tenth Floor, Horton House, Exchange Flags, Liverpool, L2 3YL. FP15/101.

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