Higher interest rates are here to stay, but they can’t be raised high enough to tame inflation.
That was the sobering message from a high-powered gathering of some of the UK’s most seasoned money managers in London last Friday at the first Investment Showcase of the Association of Investment Companies.
Although higher interest rates are good for savings, they are still way below inflation. Inflation is also terrible for some forms of investing.
Peter Spiller, an industry legend, believes inflation is in danger of staying high for some time, with nothing to rein it in.
