It is a nightmare writing an investment piece about the UK.
Make any comment about Brexit and it can be out of date before you have finished typing the sentence, let alone seen it published. But put Brexit to one side (no easy feat) and some truths about the UK are evident. One is that the political mood has radically changed. The electorate were in self-flagellatory mood after their noughties consumption binge and the ensuing financial crisis. "Give us austerity - we deserve it" was a message that got politicians elected. And austerity - a deflationary force - was what we got. T. Rowe Price: Do not underestimate central banks' power ...
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