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25th Jul 2023 19:41U.K., Daily Monitor

  • Weak CPI and PMI data will steer the MPC towards a modest 25bp hike in Bank Rate next week...
  • ...But one month’s data isn’t enough for the MPC to say that rates probably now have peaked.
  • The BoE staff’s new forecasts will imply rates are high enough, but the MPC has lost confidence in them.

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Keywords for: 27 July 2023 UK Monitor

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