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30th May 2022 00:00U.K., Daily Monitor, Weekly Monitor

Mr. Sunak's measures will boost households' nominal incomes in H2 by 2% and nominal GDP by about 0.7%.

The medium-term impact, however, will be small, and the package is so timely the MPC can't feasibly offset it.

So the outlook for Bank Rate hasn't changed radically; we now expect it to rise to 1.50%, not 1.25%, this year.

core cpi core cpi inflation cpi cpi inflation credit downside risks energy energy prices fiscal stimulus gdp growth imports inflation expectations inflation forecasts June March monetary policy mpc nominal gdp oil overall wage growth pmi policy q1 q2 q3 q4 rate hike real gdp recession savings September wage growth wages

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Keywords for: How will the MPC Respond to the Chancellor's Support Measures?

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