Merryn Talks Money Cash ISAs, Booming Bitcoin and Mansion House
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Jul 16, 2025 Morwenna Coniam, part of the Bloomberg UK Markets Today team, dives into the surprising rise of UK inflation to 3.6% and its implications for the Bank of England. She discusses Chancellor Rachel Reeves' Mansion House speech and the ongoing debate around Cash ISAs. The conversation also highlights Bitcoin's recent surge during 'Crypto Week' in the U.S., examining its potential as a risk asset and the evolving UK investment landscape, including the roles of pension funds and long-term wealth strategies.
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UK Inflation Pressure on BOE
- UK inflation unexpectedly rose to 3.6%, the highest since January 2024, causing concern for the Bank of England (BOE).
- This inflation persistence complicates BOE's interest rate decisions and pressures policymakers to remain cautious.
Interest Rate Cuts Despite High Inflation
- Despite inflation being well above target, the market expects the BOE will still cut interest rates soon.
- This expectation reflects the complex balancing act in UK monetary policy amid sticky inflation.
Rising UK Gilt Yields Trouble Government
- UK gilt yields remain elevated, even surpassing levels during the 2022 mini budget crisis.
- This rise increases government debt servicing costs and signals market fragility and uncertainty.