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16th Apr 2024 17:47UK, Daily Monitor

  • Headline and services inflation overshot the MPC’s forecast by 0.1pp and 0.2pp, respectively…
  • …Reflecting stronger-than-expected underlying price pressures, not the impact of an early Easter.
  • We still expect the MPC to cut Bank Rate in June, but are very close to delaying that first cut to August.

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Keywords for: 18 April 2024 UK Monitor

Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence