Economic
- After a decade of monetary easing, the Bank of England’s Monetary Policy Committee voted to raise the Bank Rate by 25bps to 0.5%.
- The language in the statement implies interest rates are likely to rise very gradually over an extended period of time.
- The Bank’s GDP growth forecasts saw very little change: the Bank sees growth of 1.6% for 2017 down from 1.7% in August.
Investment
- Total UK investment reached £14.7bn in Q3, bringing year to end-Q3 investment volumes to £40.9bn.*
- Central London investment Q1-Q3 2017 registered one of the strongest performances post-Global Financial Crisis.
- In addition, investor appetite for commercial real estate outside London is buoyant with regional UK investment reaching £10.3bn in Q3, 56.0% above the long run quarterly average.
