UK Markets

UK Markets Chart Book

12 December, 2018

MPC won’t wait long if no deal avoided

The latest labour market data suggests that the Monetary Policy Committee could quickly turn hawkish if a no deal Brexit is avoided. In its November Inflation Report, the Bank of England forecast inflation to exceed its target throughout the next two years even if it raises interest rates by 50bps over the same period. And the latest pay growth figures suggest that inflationary pressures are building more quickly than it anticipated. Headline annual pay growth hit 3.3% in October, well above

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