Chief Economist, Heteronomics

Phil Rush

Philip Rush is the Founder and Chief Economist of Heteronomics. Until launching in November 2016, he was Nomura's Senior European Economist and was the Chief UK Economist there since 2010. Before that, he was UK Economist at Barclays Wealth, where he also developed strategic asset allocation models for their market return portfolios. Philip started his career at Lehman Brothers covering the UK, Scandinavian and Swiss economies. A book on his fundamental framework was published in January 2018 as "Real Market Economics".

Chief Economist

UK Inflation: Resurgent Toward a Lower Peak

UK Wrap: Policymakers Preparing for Lift Off

UK Inflation: Spring Break in Still Rising Trend

Heteronomics

Heteronomics represents a different kind of economics. We believe analysis should delve into the details of what is really going on, rather than using overly simplistic assumptions to quick-sell stories. Independence from myopic institutional pressures allows us to focus on the realities underlying your asset allocation decisions, without the conflicts of the old market structures. Heteronomics targets the themes driving UK asset prices, offering the benefits of depth, independence and ultimately price.

UK-centric macro research

Macroeconomics

<ul><li><em>UK inflation is set to resume its resurgent trend in April, driven by positive payback in airfares (after the late Easter) and energy tariff hikes. Higher weights in the RPI basket, together with a large council tax hike, are even more supportive for that index. I expect a rise to 2.64% in the CPI and 3.6% on the RPI.</em></li></ul><p>There have been some mixed inflationary surprises in recent months. February was strong as imported price pressures passed through, then March was soft amid a decline in airfares…</p>

UK inflation is set to resume its resurgent trend in April, driven by positive payback in airfares (after the late Easter) and energy tariff hikes. Higher weights in the RPI basket, together with a large council tax hike, are even more supportive for that index. I expect a rise to 2.64% in the CPI and 3.6% on the RPI.There have been some mixed inflationary surprises in recent months. February was strong as imported price pressures passed through, then March was soft amid a decline in airfares…

Preview: UK Inflation's Resurgence in April