Pantheon Macroeconomics

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  • The MPC kept rates on hold at September’s meeting, as consensus and the markets expected.
  • The minutes were fractionally more hawkish than in August; we continue to expect no more cuts this year.
  • The pace of quantitative tightening will be slowed to £70B in 2025/26, from £100B in 2024/25.

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Keywords for: 19 September 2025 UK Monitor

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