Pantheon Macroeconomics
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19th Jul 2022 14:33U.K., Daily Monitor
The Governor emphasised at Mansion House that the drop in the workforce has been a key driver of rate rises.
So its 0.8% 3m/3m rise in May, the largest since 1984, should ensure the MPC sticks to a 25bp hike in August.
The workforce has scope to rebound further, while vacancy and survey data imply job growth will slow.
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