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24th Apr 2025 10:30UKWeekly Monitor

  • The economy was growing solidly prior to tariffs, powered by consumers opening their wallets.
  • Soft data are creaking, but they likely overstate economic weakness, the PMI in particular.
  • A 50bp May rate cut is off the table, but we see a decent chance of 25bp reductions in May and June.

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Keywords for: 28 April 2025 UK Monitor

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