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Article: Gloomy view from fund managers
- Article from:
- The Independent (London, England)
- Article date:
- June 13, 1994
- Author:
CopyrightCopyright 1994 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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INSTITUTIONAL fund managers are more pessimistic about inflation
and prospects for the economy than they were last month, according
to the latest Gallup/Smith New Court survey, writes Robert Chote.
Fund managers now expect inflation to be at 4 per cent by the
end of next year, the top of the Government's 1-4 per cent target
for the underlying rate of price increases. They are also more
pessimistic about the pace of average earnings growth.
Base rates are expected to have risen from their current 5.25
per cent to 6 per cent by June next year, a less pessimistic
prediction than that implied by the short- sterling futures market.
Fund managers remain confident that Japanese equities will ...