Issue - meetings

Committee noted the Economic and Market Update and the information in the report.

Mr Harkin gave a report on the economic and market update for the quarter to 31 December 2016 and noted that the sentiment has been driven by the US election result. 

Key points made:

·         the weakening of Sterling

·         Higher inflation expectations

·         Rising commodity prices

            Asset markets have generally been positive and there has been a big “bounce” in the US equities market.

            Mr Hibbert noted that the lack of detailed discussion was likely due to the fact that there was a lot of information to absorb but this was seen as a positive position.  Mr Harkin offered to discuss the detail in the report with any Committee members who wished to do so before the meeting to aid discussion if that would be helpful.

RESOLVED

(a)       Committee noted the Economic and Market Update and the information in the report.