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🇬🇧 The BoE held while inflation climbed. The lone dissenter is starting to look prescient.
The day in view

🇬🇧 The BoE held while inflation climbed. The lone dissenter is starting to look prescient.

Macro Soup Newsroom Macro Soup Newsroom 3 min read

The BoE held at 3.75% on an 8-1 vote while UK CPI hit 3.3% year-on-year in March. The Bank's own forecasts see inflation rising further through Q4. The April CPI print due May 20 will either validate the lone dissenter or buy the majority more time.

Andrew Bailey and Martin Wolf seated at a conference table in the Bank of England with a third man standing at a podium.
BoE Governor Andrew Bailey discussed global imbalances with Martin Wolf at the Bank of England on May 8, as markets digested the April Monetary Policy Report's focus on subdued growth and rising energy inflation risks. Source

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