The slowdown in money growth in March in year-on-year terms was largely due to base effects. It was still in the double digits and should remain strong over the rest of this year at least. But with the economy operating some way below its potential, we don’t think that this poses much of a risk to inflation.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.