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Decision Maker Panel (DMP) Data Due

UK DATA
  • The BOE's monthly DMP data is due at 9:30BST, and despite getting little traction in the media is making increasing contributions to the MPC's decision making.
  • In some ways given the recent surprise in inflation and the increasing concerns that inflation is starting to be more domestically generated, this data will take on increasing significance (the main downside is there isn't a very long history).
  • "DMP" appeared 15 times in the May MPR - with the strongest references to firms' unit cost and firms' pricing expectations (rather than aggregate CPI measures).
  • Expectations of wage growth will also be closely watched (as well as employment growth to a lesser extent).
  • As the survey is not so widely reported by some of the major news wires, markets can sometimes be a bit slow to react to the results.

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