Recession postponed until 2024. Household confidence improves. Inflation finally falling significantly. Prudence and pragmatism from the BoE. Rates normalize.
Rebound in securitized real estate and equities.

Key points

• British economy still flirting with recession
• Recession postponed until early 2024
• Timid recovery in leading indicators
• Significant downturns in the labor market
• Household confidence improves
• Inflation finally falling more noticeably
• BoE maintains pragmatic caution
• Normalized outlook for interest rates
• Not yet the right time for sterling
• Positive outlook for securitized real estate
• Discount still attractive for equities

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