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13th Dec 2023 18:56UKDaily Monitor

  • The MPC still thinks that monetary policy will need to be restrictive “for an extended period of time”.
  • It downplayed recent downside data surprises and continued to fret about upward inflation risks.
  • It will wait for clarity on fiscal policy and the impact of the NLW hike before easing; the first cut will come in May.

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Keywords for: 15 December 2023 UK Monitor

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