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20th Mar 2025 18:19UKWeekly Monitor

  • We are comfortable forecasting only two more rate cuts this year after hawkish tweaks to MPC guidance.
  • Employment continues to hold up relative to surveys, and pay growth is far too strong to deliver 2% inflation.
  • Ms. Reeves can rectify OBR forecast changes with only small spending cuts, affecting the MPC little.

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Keywords for: 24 March 2025 UK Monitor

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