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Taylor Swift London Eras Tour unlikely to move the needle on the Bank of England’s rate policy, analyst says
LONDON — Taylor Swift’s record-breaking Eras Tour may have led to a surge in restaurant and hotel bookings in the U.K. — but it’s unlikely to have a significant impact on the Bank of England’s rate cutting policy, one analyst told CNBC.
The pop artist returned to Britain this week for five additional concerts to add to her total of eight shows at Wembley Stadium this summer — overtaking the record for any solo singer to perform at the stadium.
Barclays predicted in May that 1.2 million ticket-holders would spend an average of £848 ($1,105) each, meaning the tour could provide a £997 million boost to the U.K. economy.
The Eras Tour concert creates a “really significant economic multiplier effect,” said James Rossiter, head of global macro strategy at TD Securities.
“Where we’ve seen a bit more of a durable impact this time around, is on the restaurant bookings,” Rossiter told “Squawk Box Europe” Wednesday.
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