I came across a slightly tongue-in-cheek website this week collecting signatories to petition against the ECB’s ‘intent to increase rates.’ It hasn’t had a great deal of success so far; a mere 5468 signatories out of a European Union population of around 500 million. Spain, which incidentally is likely to suffer more than most from a rate rise, has provided more than its fair share of the 5468 votes. Whilst the petition does highlight a couple of serious issues, pointing to weak consumer sentiment and retail sales for example, I’ve got a sneaking suspicion the petition won’t way too heavily on the minds of the ECB Governing Council when they meet next month.

The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. Past performance is not a guide to future performance.

Stefan Isaacs

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