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24th Jun 2024 17:51UKDaily Monitor

  • We upgraded our Q2 GDP growth forecast to 0.4% quarter-to-quarter, close to the MPC’s 0.5% call.
  • Services inflation exceeded MPC forecasts by a widening margin in April and May.
  • So we pushed back our first MPC rate cut to September, but we still expect two cuts by year-end.

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Keywords for: 26 June 2024 UK Monitor

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