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S&P Global/CIPS Flash PMIs (Apr.)

April’s flash PMIs suggest the economy is still proving resilient to the dual drags of high inflation and high interest rates going into Q2. That, alongside evidence suggesting that domestic inflationary pressures are easing more slowly, gives us even more confidence in our view that the Bank of England will raise interest rates from 4.25% now to 4.50% in May.

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