Weekly Economic Briefings - Uk Weekly Economic Briefing
The MPC’s decision to keep rates on hold in May, flip-flopping on previous hints of a hike, came as no surprise, given the economy’s weakness in Q1. But there was little shift in the Committee’s view of the underlying economic outlook. The MPC’s inaction is welcome from the economy’s perspective and in tune with the sluggishness of official output data in March. But if, as we expect, activity bounces back in Q2, a hike in Bank Rate in August is likely.
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