Uk financial services sector faces uncertainty, says ey
Uk financial services sector faces uncertainty, says ey"
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Previously, interest rates had been predicted to rise. As a result of investor uncertainty, assets under management are predicted to increase 1.5 per cent per year from 2016 to 2019,
compared with 7.7 per cent last year, EY Item Club predicted. Mr Ali said: “Undoubtedly, the landscape in which financial services firms are operating has altered – consumers and businesses
are going to think twice before they borrow and be careful about what they invest in. It also looks like low interest rates – which affect all sectors – are here to stay. “But this economic
environment isn’t that different from what the industry has been contending with over the past eight years of change and challenge. In fact, thanks to the rigour instilled in their
businesses through the crisis, the financial services industry is probably among the sectors best placed to deal with this within the UK.”
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