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By Phil Rush 27-06-2019
In: hive-exclusives | Economics Monetary Policy & Inflation UK

BoE: Hawks Caught On Inconsistencies

(4 min read)
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Bank of England policy was kept unchanged at the recent June meeting and the Monetary Policy Committee (MPC) kept its hawkish guidance. Dismal UK manufacturing data for April prompted only a small downgrade to growth expectations, while the MPC’s other macroeconomic views were deemed broadly in line with the May Inflation Report forecasts. These hawkish views indicated a substantial margin of excess demand and inflation developing over the medium term (Chart 1)...
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