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3rd Apr 2025 09:53UKWeekly Monitor

  • The initial response to US tariffs suggests the barriers are more disinflationary for the UK than most.
  • Markets are understandably pricing downside growth tail-risks and the UK avoiding retaliation, for now.
  • But we continue to think this tariff fandango will eventually prove to be a stagflationary shock.

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Keywords for: 7 April 2025 UK Monitor

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