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19th Feb 2024 21:41UK, Daily Monitor

  • The MPC will see labour market data for April, showing the impact of the NLW hike on wages, if it waits until June.
  • The MPC also will have two more CPI reports to hand if it waits until June; both likely will show sub-2% inflation.
  • Most Committee members would rather wait too long than cut prematurely; the cost of waiting should be low.

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Keywords for: 21 February 2024 UK Monitor

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