Issue - meetings

The Committee received an update on the performance of the Treasury Management Strategy during quarter 3.

Officers advised that the increase in the Bank Rate in November by 0.25% to 0.50%, was a significant economic event, making it the first increase by the Bank of England’s MFC since July 2017.   Economists believed that the next rate rise could occur in May 2018. 

Based on the actuals for Quarter 1 -3 and a projected position for Quarter 4, it was unlikely that the Authority would achieve the investment income budget set out for 2017-18.

During the year, the Authority had operated within the treasury limits and Prudential Indicators set out in the authority Treasury Management Strategy Statement and in compliance with the authority’s Treasury Management Practices.  The Committee received an update on indicators and limits as contained in the Appendix to the report.

RESOVLED:

That the Committee noted the report.