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22nd Sep 2022 13:43U.K., Daily Monitor

  • The improved near-term outlook for CPI inflation has left the MPC less anxious about second-round effects.
  • The MPC is awaiting more details on fiscal policy; a 75bp hike in November can't be ruled out...
  • ...But the proposed tax cuts will do little to boost GDP, and spending might be cut; we still expect a 50bp hike.

BoE central banks core goods core goods inflation cpi cpi inflation employment energy goods inflation inflation pressures July labour labour market March May mpc November October q3 q3 gdp q4 recession swap rates tax cuts unemployment unemployment rate

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Keywords for: 23 Sept 2022 UK Monitor

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