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15th Jul 2024 12:03UKDaily Monitor

  • BoE Chief Economist Huw Pill’s speech last week signals the first rate cut is mostly data-independent.
  • The hawks are shifting to argue for only gradual cuts, so back-to-back reductions will face stiff resistance.
  • Mr. Pill suggested interest rates may need to remain persistently restrictive to keep inflation at the target.

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Keywords for: 16 July 2024 UK Monitor

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