The Council Meeting has received the mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2016/17 in line with best practice guidelines, and noted the report; the treasury activity in the first half of the financial year; and the revised interest rate forecasts for PWLB rates over the short and medium term, which will drive the Council’s long-term borrowing strategies going forward and also those for the UK Bank Rate, which have reduced budgeted investment earnings rates for 2016/17 and future years.
The Executive considered a mid-year review of the Council’s Treasury Management Strategy Statement and Annual Investment Strategy for 2016/17 and recommended to the Council Meeting that it receive this report in line with best practice guidelines and
· note the report and the treasury activity in the first half of the financial year, and
· note the revised interest rate forecasts for PWLB rates over the short and medium term which will drive the Council’s long-term borrowing strategies going forward and also those for the UK Bank Rate which have reduced budgeted investment earnings rates for 2016/17 and future years.