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21st Jun 2023 20:14U.K., Daily Monitor

  • The surprise 50bp hike in Bank Rate demonstrates the MPC’s laser focus on returning inflation to target...
  • ...But we doubt it has much more work to do; we expect 25bp hikes in August and September, and then inertia.
  • We look today for a 1.0% month-to-month drop in May retail sales volumes, well below the consensus.

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Keywords for: 23 June 2023 UK Monitor

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