Robert mackley
4.6K posts

Robert mackley
@robert_mackley
Ex Stockbroker and Ex Small business owner still investing and now learning the art of retirement ⚒️ ⛷️🥾






































Another survey, the UK PMI release, revealing the scale of building cost pressures in the UK economy. The challenge for the BoE is how to respond. Spot prices for energy and the demand/monetary policy backdrop would suggest a much more modest inflation peak than we saw in 2022 (BoE likely to come out with a peak just below 4% in the MPR) but sentiment is signalling rather hotter numbers (YouGov/Citi seeing 5.4% inflation over next 12m). Is the soft data showing a knee jerk reaction an erratic backdrop - and/or shows quite how much inflation expectations have decoupled in recent years? A really. really tough job for the BoE next week to get the tone right.



