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Little in the DMP survey to alter the BOE's course

UK DATA
  • Overall, generally a mixed DMP survey.
  • Realised price growth saw a decent fall, while expected price growth fell a little (but still appears pretty sticky).
  • Realised employment growth actually ticked up marginally - and appears to have stabilised around the high 2% level recently.
  • No slowdown in wage growth expectations - they have rounded to 5.1% for four months in a row now after falling from 6.0% between December 2022 and July 2023.
  • Overall nothing really here to alter the MPC's course - they will still argue that upside risks remains to inflation and there is nothing in here to really bring a cut any sooner.

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