How Quickly Will the Bank of England Follow Fed in Rate Rise?

The dollar is back at its year to date peaks, commodities took another sharp leg down and two-year US yields climbed to their highest levels since 2010 - now comes the rate rise

External Writer 8 December, 2015 | 12:16PM
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Morningstar's "Perspectives" series features investment insights from third-party contributors. Here, Andrzej Pioch, Co-Fund Manager, L&G Multi-Index Funds likens Janet Yellen to the Lone Ranger.

The wait is almost over…or so it seems. Markets heavily favour the Fed going ahead with its first hike since mid-2006 next week. Many of you will remember the Lone Ranger, the fictional masked cowboy who fought outlaws in the US with his Native American friend Tonto. It would be easy to see Federal Reserve chairman Janet Yellen as the Lone Ranger, acting alone in pursuit of normalising global monetary policy from the abnormality that has occurred since the global financial crisis.

The Lone Ranger was so named because he was the only survivor of an ambushed group of Texas Rangers. However the customary definition of a Lone Ranger has evolved to refer to someone who works alone.

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