BoE: Slowing Stimulus Surprisingly Soon
The BoE has increased its asset purchase target by £100bn. Rather than being a top-up until August, though, the MPC will stretch the programme...
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UK: Inflation in May-20 Approaches Its Trough
UK inflation data matched expectations for the CPI to slow to 0.5% y-o-y while the RPI was 18bp below my forecast at 1.04%. The latter surprise...
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UK: Unemployment Still Resists Rising in Apr-20
The unemployment rate remained at 3.9% in April, contrary to all expectations, including my forecast from the consensus’ bullish fringe. The UR is...
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UK: GDP Mirrors Retail Crash in April-20
UK GDP collapsed by 20.4% m-o-m in April-20 as the economy endured the most intense phase of total lockdown. The 3.5 times greater fall in April...
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BoE: Refilling Gilt Buckets with Revisions
The depths of UK depression do not seem as deep as the BoE expected, but it is still an enormous shock that monetary policy needs to maintain...
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