The Gresham Wealth Management team were privileged to host Lydia Reid, the Bank of England’s Deputy Agent for the North West, who provided a timely and exclusive briefing on the current state of the UK economy, offering the kind of granular detail that goes far beyond the headlines.
We were delighted to bring this event together in the heart of Hale, creating a space not just for economic discussion, but for also building on our longstanding connection within the local community.
The big picture: inflation and interest rates
The headline news from Lydia’s presentation was the Bank’s battle against inflation. The data shows clear progress: CPI inflation stood at 3.8% in September, which was lower than expected, and October’s CPI inflation data was released that very morning, coming in at 3.6%. The Bank believes CPI has now peaked and is forecasting inflation to dip to 3% by January 2026.
Naturally, the conversation turned to interest rates. Lydia confirmed that on 6th November, the Monetary Policy Committee (MPC) voted to maintain the Bank Rate at 4%. It was a tight decision with a 5 to 4 split vote, highlighting the fine balance the MPC is striking. The outlook, however, offers some relief for borrowers as markets are currently expecting two further cuts, bringing the rate down to 3.5% by mid-2026.
Looking ahead: The upcoming Budget
The timing of this event could not have been more pertinent. With the UK Budget announcement scheduled for next Wednesday, Lydia’s insights provided a crucial baseline. The MPC has noted that it will be carefully assessing the impact of the Budget decisions once they are released.
As we look toward next week’s announcement, our understanding of the current economic “lay of the land” is vital and the policies unveiled will feed into the Bank’s future forecasts.
A community effort
Beyond the charts and graphs, the event was a celebration of local partnership, and we must extend a huge thank you to Pavilion by Francs in Hale for their event space and exceptional catering. Their hospitality helped set the tone for a warm and engaging lunch.
Morven Millar of Gresham Wealth Management closed the event with a note of thanks:
“We are incredibly grateful to Lydia for sharing such valuable insights with us today, especially just days before a major Budget announcement. It was wonderful to see so many friendly faces here in Hale, and I’d encourage anyone with questions about how today’s data or next week’s news might affect their financial plans to speak to us. We are here to help you navigate these changes”
Next Steps
At Gresham Wealth Management, we are pleased to be able to bring these events to you. If you would like to discuss how the forecasts, shared by Lydia Reid, or the potential implications of the Budget might impact you personally, as a business owner, or both, please do not hesitate to get in touch.
