Certainly, this view would have been reinforced last week, when the Bank’s November Inflation Attitudes Survey revealed public expectations of inflation had fallen to their lowest level in two years. The median expectation of the rate of inflation over the coming year was 3.3%, compared to 3.6% in the August edition of the survey.

These surveys can act as a useful indicator. If employers anticipate lower inflation, it suggests wage growth may also slow. As such, the survey forms part of the Monetary Policy Committee’s extensive dataset for deciding on interest rates.

That said, it wasn’t all good news. This morning, the Confederation of British Industry said it expected another year of weak growth for the UK economy in 2024. Following GDP growth of 0.6% in 2023, the Confederation now expects growth of just 0.8% in 2024. In particular, it predicts that growth in consumer spending will remain weak next year thanks to the higher interest rates taking a harder bite out of household incomes.

On a similar note, Schroders said it expects the UK to fall into recession in the first half of 2024.

With a General Election likely to be called next year, this might make for a challenging back drop for the sitting Government. From an investment point of view, it’s important to remember that most revenues in the FTSE 100 come from abroad. Therefore, even if the wider UK economy might be struggling, there will remain opportunities for fund managers to find growth.

Turning to mainland Europe, equities maintained their recent rally last week. There is growing optimism that the European Central Bank (ECB) may cut interest rates in the not-too-distant future.

The slowdown in inflation over the past few months has fuelled these hopes, with headline inflation now only modestly ahead of the ECB’s target of 2.0%. Last week saw several senior policymakers signal that future rate increases are unlikely given the disinflationary backdrop. This helped lift the MSCI Europe ex. UK Index by 1.6% by the close of play on Friday.

The ECB will host its final policy meeting of the year this week and, whilst no changes are expected to interest rates on this occasion, any hint of a near-term change in direction will be welcomed by the market.

In the US, the S&P 500 inched 0.2% higher. Once again, growth stocks outperformed their value counterparts thanks to the likes of Alphabet and Apple, the latter of which returned to a $3 trillion market capitalisation.

Led by large tech companies such as these, US equities have led the way in global markets over 2023. However, Eoin Walsh, Partner at TwentyFour Asset Management, warned that US consumer sentiment is weakening, and this might prove a challenge in 2024.

Walsh noted: “The US economy looks to be in ‘late cycle’, and therefore more vulnerable to an external shock – although it is impossible to predict, or time, an event like this. However, should the economy suffer a significant slowdown or recession, we think it will very likely have been caused by the Fed’s rate-hiking policy – but importantly, the Fed is now in a place to help again by cutting rates. This is a strong position to be in, and healthier for the market and while we think the Fed will be supportive, we are not predicting a return of low, COVID-era rates or quantitative easing.”

Adding further unpredictability to the US market is the upcoming Presidential election, due to be held next year. Currently, it seems the election will once again see Joe Biden face off against Donald Trump, and at the time of writing, the election looks like it could be extremely close.

When you’re in your 40s and 50s, you can sometimes feel like you’re financing three generations, not just one. Many people find themselves caught in the ‘sandwich’ generation, responsible for both their children’s future financial wellbeing and the wellbeing of their parents in later life. At the same time, you may also be thinking about making the most of your investments so that you’ve got enough money to enjoy your own retirement.

“Your priorities change over time, especially when you’re working out how to balance your own financial wellbeing with that of your children’s in the future,” says Tony Clark. “Our mindset about money is changing, just as our attitude to work and careers is changing. Our personal goals become family goals.

“Money is moving up, down and across generations. Nowadays, people are thinking ‘how can I make the most of my money for me and my family?’” says Tony. “Where we can add real value and peace of mind is helping make sure that it’s happening in the most tax-efficient and future-proof way.”

With so many calls on your money, it makes sense to take advantage of the tax allowances that are right in front of you. This includes even the ones we’re most familiar with.

In the UK, ISAs are a simple and tax-friendly way to get started if you haven’t already. Cash ISAs make a good, tax-efficient home for rainy-day funds, and Stocks & Shares ISAs can provide the potential for growth from your investments to help achieve your longer-term ambitions, from buying a new home to affording a great education for your children.

Tax-efficient savings could help your loved ones with long-term care costs, taking a weight off their mind and yours.

Most of the tax allowances and tax reliefs you can claim are on a use-it-or-lose-it basis, so planning ahead is important, especially as tax-year end in April is approaching.

“If you’re thinking about moving money around, or splitting your money, have a chat with your adviser,” says Tony.

“Talking your options through with an expert who understands your financial goals as a family will help you feel confident about the choices you’re making for your children.”

“I didn’t think I was even going to be invited onto this show, let alone be sat here [on the winner’s throne].”

Radio presenter Sam Thompson expresses his surprise after winning this year’s I’m a Celebrity Get Me Out Of Here, which attracted an average daily audience of 6.6 million.