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15th Apr 2024 15:56UKDaily Monitor

  • The MPC will note the sharp employment drop, which suggests a risk the labour market is loosening quickly.
  • But the headline jobs data are ropey, and surveys point to employment slowly rising.
  • The MPC will focus more on stronger-than-expected pay, which suggests June is the earliest for a rate cut.

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Keywords for: 17 April 2024 UK Monitor

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