Despite the Bank of England’s more hawkish rhetoric, we doubt it will beat the Fed to higher interest rates. Meanwhile, the news that the Conservatives appear to be performing well in Thursday’s local elections probably won’t have much of an economic impact, not least because local elections aren’t always a good barometer of general elections. Perhaps the most important result from an economic perspective is whether the pro-independence Scottish National Party (SNP) wins a majority, since it would be a clear public mandate for a second Scottish independence referendum.
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