- Key factors for May rate decision were domestic, not tariffs.
- We have not seen particular inflation surprises.
- Labour market has loosened somewhat.
- Pay growth is above levels consistent with a 2% inflation target but lower than expected in February.
- Path of slowing pay growth is intact.
The UK continues to have the highest core inflation rate among the major economies.
This article was written by Giuseppe Dellamotta at www.forexlive.com.
