Wealth Management Update – May 2019

Welcome to our May Newsletter.

With Spring in full swing, let’s enjoy some fun facts about May before heading into the monthly news. The month launched with May Day, celebrated in England for over 2,000 years and traditionally involving morris dancing, crowning a May Queen and dancing around a maypole. In 1545, a 100 foot high maypole was constructed; this was later purchased by Sir Isaac Newton to prop up a telescope…that’s Renaissance recycling for you!

In the world of finance, the Bank of England has raised growth forecasts to 1.5% for 2019 and is keeping interest rates at 0.75%. The bank is also expecting house prices to fall by 1.25% due to Brexit uncertainty. The government is also on the lookout for a new bank governor and is hoping to secure a name this autumn, as Mark Carney will step down next on 31st January 2020.

Should you have any immediate concerns about how these market movements affect your finances, please contact Roy Thompson, Head of Wealth Management, on 01903 234094.