Philip Shaw Quotations

Continued developments in Iraq will be the main factor driving markets.

We think the door is still open for a cut in rates over the next two months, perhaps as soon as next month.

The Next statement has given a boost to general retailers and the Next share price in particular.

The next move in rates will be a cut. There is some uncertainty over whether rates will be brought down as soon as next month but we would not be at all surprised if it happens.

Children with the most agile minds have the most rapidly changing cortex.

Children might inherit certain genes that incline them to interact with their environment in very 'stimulating' ways. This stimulation could then influence brain development. . . . What is less likely is the idea that we are born with a certain set of genes which 'fix' at birth our intelligence and the trajectory of our brain development.

Economic news since the 4 August easing has been a mixed bag and consistent with rates remaining on hold.

Last month's inflation report was about as strong an endorsement of steady rates as one is likely to see. The balance of news has turned around significantly over the past month and we now expect rates to remain on hold at 4.5% for the remainder of the year.

Last month's inflation report ... (was) about as strong an endorsement of steady rates as one is likely to see.

We are increasingly nervous about our call for a quarter-point rate cut in February, even if we are not ready to throw in the towel. Continued sluggish growth should mean the next couple of years see a degree of disinflation, justifying lower interest rates.