The “Budget consequences for CPI to evolve over time” said Andrew Bailey but it does feel like that is quite a big unknown and on everyone’s mind as the BoE cut rates by 25bps as expected with an 8-1 vote. Catherine Mann, the only dissenter, who voted to hold rates, did so partly on the cost (National Insurance) and demand (increased public spending) effects of the Budget. She isn’t the only one who’s keeping a close eye on the fallout as UK Corporations continue to voice concern - Sainsbury’s…
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