Pantheon Macroeconomics

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30th Sep 2021 18:00U.K., Economic Monitor

  • The shortfall in GDP in July from its pre-Covid peak has been revised to just 1.3%, from 2.5% previously.
  • Future growth, however, will be weak; both government spending and households' incomes will fall...
  • ...So the MPC can take its time; we now expect a Q2 rate rise, but then a 12-month delay until the next hike.

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Keywords for: Rate Hike Now Likely, Following Big GDP Revisions

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