Pantheon Macroeconomics

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4th May 2023 14:52U.K., Daily Monitor

  • Households withdrew £4.8B from U.K. banks in March; most of the money flowed to fully insured NS&I accounts.
  • Corporate treasurers also withdrew large sums from U.K. banks, and increased their allocation to gilts.
  • Flows likely ebbed in April, but banks will want to stop the bleed; expect deposit and lending rates to rise in Q2.

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Keywords for: 5 May 2023 UK Monitor

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