Chancellor George Osborne delivered his sixth and final Budget of this parliamentary term on Wednesday, which also turned out to be one of the most uneventful.
Fund managers from around Schroders exchanged views on the current state of various markets around the world at a recent panel discussion. Here, we round up their insights.
UK growth slowed in the fourth quarter of 2014 but there is potential for the economy to re-accelerate in the first half of 2015.
Annual UK CPI inflation fell from 1% to just 0.5% in December falling by more than consensus estimates of 0.7%.
Share valuations remain close to their long-run average, which gives us comfort in the market's aggregate level. We believe value still exists within the domestic banks and house builders.
UK equities look attractively valued as an asset class and we believe that a backdrop of moderate growth, low interest rates and subdued inflation should allow further upward progress to be made in the year ahead.
BoE Governor Mark Carney delivered a cautious outlook when presenting the November Inflation Report, suggesting that interest rates could be kept unchanged until the end of 2015.