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KPMG comments on today's inflation figures

KPMG comments on today's inflation figures

Yael Selfin, Chief Economist at KPMG UK, comments on weak inflation pressure on Bank of England.

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“Weak inflation takes the pressure off the Bank of England to raise rates but don’t expect cuts any time soon”, says Yael Selfin, Chief Economist at KPMG UK:

“Despite the moderating pace of inflation, thanks partly to a late Easter, the Bank of England is unlikely to follow the change of heart of other major central banks. The MPC is expected to keep its sights on the next, albeit delayed, interest rates rise, rather than contemplate an easing at this stage.

”Assuming no major Brexit-related disruptions or other external shocks, we expect CPI inflation to remain slightly below the MPC target of 2% over the medium term, leaving scope for the MPC to keep rates unchanged until late next year.”  

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KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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