In a recent poll we asked our audience "do you think the Bank of England rate cut and package will boost the UK economy?". A small majority (52.63%) said no - they do not believe the rate cut will boost the economy, however, the results were close, reflecting the greater uncertainty in the market.
Alex Dryden, market strategist at J.P. Morgan Asset Management, says that the latest poll shows that investors, like voters, are a divided bunch about the best way forward for the UK. The economy is now sailing into unchartered waters and both economic and political uncertainty is likely to increase from here on out. The key for investors is to follow the data, it has been surprisingly strong over the summer, but if the economy does slow expect more action out of the BoE.