Pantheon Macroeconomics

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28th Feb 2023 16:47U.K., Daily Monitor

  • The rise in U.K. rate expectations during February was driven by U.S. developments, not U.K. data surprises.
  • Sterling might drop to $1.13, if the MPC keeps Bank Rate at 4% and the Fed matches markets' expectations...
  • ...But the MPC's below-2% medium-term inflation forecast implies such a depreciation could be tolerated.

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Keywords for: 1 Mar 2023 UK Monitor

bank rate, depreciation, February, fed, inflation, inflation forecast, mpc, u.s., Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence