Don’t panic – keep calm and carry on!

Don’t panic! Don’t panic! There’s been a lot of talk about interest rates going up but there’s no need to panic just yet.
The speculation has come after Bank of England governor Mark Carney said in a speech that interest rates could rise ‘at the turn of this year’.
But as ever the devil is in the detail; it’s important to note that he clearly said that once rates start to rise, they would go up slowly in small increments.
And even when they did go up, they would only rise to about 2% or 2.5% over a three year period – representing the new norm rather than the 4%, 5% or even double digit figures we have seen in the past.
So, realistically we are probably looking at a 0.25% or, more likely, a 0.5% rise at the end of the year or start of next year.
Of course, this would have different impacts on different people depending on their circumstances, but it does represent some confidence that we are returning to some kind of economic normality after the Great Recession.
Mr Carney knows that any higher increase could destabilise the property market and the wider economy.
Clearly, he has flagged up the rise to give prior warning so any increase doesn’t come as a total shock.
It falls into his policy of forward guidance although he has backtracked on forecasts before.
Indeed, minutes released today from the Bank’s monetary policy committee , which sets rates, showed that members were unanimous in deciding to leave rates unchanged at their last meeting.
In addition, a lot could happen between now and December, and Mr Carney has wisely added the proviso that it does depend on any economic shocks.
The world is still an unstable place – not least with the Greek crisis – so we may see some revision of timescales between now and the end of the year.
Mr Carney may also decide that Christmas is not the best time to be introducing rises at the busiest time for consumer spending.
So the message is don’t panic – keep calm and carry on!

Don’t panic! Don’t panic! There’s been a lot of talk about interest rates going up but there’s no need to…

6th February 2024

A Dynamic Collaboration in Topographical and Utility Surveys

In light of the critical importance of precision and accuracy in the world of land development, McAndrew Martin places great emphasis on the pivotal role that comprehensive surveys play in laying the groundwork for successful projects. Presently, some of our key members are actively engaged in on-site topographical, utility, and…
25th January 2024

Piloting the Company Drone

During a recent survey at a site near Canterbury, our apprentice building surveyor, Josh O’Leary, was accompanied by our experienced surveyor and drone pilot, Rob Graham, as part of Josh’s learning and development plan. Together, they piloted our company drone through a demolition site assessment, shedding light on the remarkable…
13th December 2023

New MML strapline

The MML website has been refreshed and updated, making it more user-friendly, informative, and inviting. Work hasn’t stopped and it will continue to evolve and showcase our capabilities and achievements, along with our latest news.    The new MML strapline was launched on Friday 15th December 2023. “Critical Service Solutions…
5th December 2023

McAndrew Martin Ltd is very pleased to announce that Luis Correia has joined our team

Luis is an extremely accomplished, creative, and innovate Chartered Structural Engineer. With over 16 years in the industry, he is driven by architecturally-led buildings and has been exposed to a variety of scales, typologies, and sectors (residential, commercial, transport and energy). This has led to extensive experience of working in…
28th November 2023

Congratulations to our BIM Co-Ordinators

Congratulations to Siddarth Bhonsle, Senior BIM Co-Ordinator (right), and Akshayaraj Bathala, Junior BIM Co-Ordinator (left), for successfully completing their Master’s Degree in ‘BIM in Design, Construction, and Operation’, at the University of the West of England – Bristol on Friday, October 24th, 2023. Their expertise will significantly enhance the documentation…
28th November 2023

RAF Leadership & Team building Day at RAF Cranwell, OASC.

McAndrew Martin was one of several companies, along with a Welsh fire service, that took advantage of the offer for Leadership and Teambuilding training by the RAF. The training took place at the Officer and Air Crew Selection Centre (OASC), RAF Cranwell, near Lincoln. Despite the distance, it proved to…
21st November 2023

Warsash Wasps Sponsorship

McAndrew Martin Ltd is delighted to have sponsored The Warsash Wasps, U9 Girls’ football team. We’ve supplied them with training tops and waterproof jackets to support their training during the colder and wetter weather conditions. We extend our best wishes for their success and look forward to continuing our support…
14th November 2023

Remembrance Weekend

On this Remembrance weekend, November 2023, members of the McAndrew Martin Family honoured and remembered those who made the ultimate sacrifice for our freedom. On Saturday 11th November, Rab Bailie, Tina Davies, Tara Payton & Pauline Hatchard took part in the inaugural Southampton Poppy Walk around Royal Victoria Park near…
9th November 2023

Insights from PROCUREX Wales

In today’s rapidly evolving world, it’s imperative for industries to come together and explore ways to reduce carbon emissions and foster sustainable growth. Recently, some members of our team had the privilege of attending Procurex Wales, an event that promised to shed light on cutting-edge strategies in this critical domain….