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  • An MPC interest rate cut today is beyond doubt after inflation undershot the MPC’s forecast by 20bp.
  • We add an April rate cut to our forecast too, although that is a finely balanced call still…
  • ...Because underlying inflation pressure remains much firmer than the headline inflation drop suggests.

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Keywords for: 18 December 2025 UK Monitor

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