π¬π§ The Bank of England's first hawkish dissent in this cutting cycle is a stagflation warning
The day in view
π¬π§ The Bank of England's first hawkish dissent in this cutting cycle is a stagflation warning
The Bank of England held Bank Rate at 3.75%, but the meeting's first hawkish dissent of the cutting cycle matters more. UK construction PMI sub-indices just hit their weakest levels since 2020, while CPI sits at 2.8%.