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🇬🇧 BoE's Greene relitigates the transitory debate as services PMI tips into contraction
The week in view

🇬🇧 BoE's Greene relitigates the transitory debate as services PMI tips into contraction

Macro Soup Newsroom Macro Soup Newsroom 4 min read

MPC member Megan Greene signalled a possible rate hike within months, warning energy pass-through will push CPI back toward 3.3% in Q3. April CPI fell to 2.8%; services PMI contracted to 49.3 in May. June 17 is the test.

Woman at a podium with a large screen displaying a Bank of England presentation on energy shock inflation risks.
MPC member Megan Greene examined second-round effects from energy shocks in her June 2 speech, outlining scenarios for the appropriate monetary policy response. Source

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