We doubt the big rise in the minimum wage in April will prevent wage growth from falling faster this year than the Bank of England has forecast. But the clear risk is that it supports wage growth and domestic inflation by more than we and the Bank expect. That would make our forecast of a June interest rate cut look a bit more challenging.
We will be discussing whether the next government will move the dial on the economy in a 20-minute online briefing at 3pm GMT on Wednesday 13th March. (Register here.)
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