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MNI BOE Preview - September 2021: How hawkish is Pill?

EXECUTIVE SUMMARY:

  • The September MPC meeting will not be accompanied by a new Monetary Policy Report or economic forecasts. There are three main questions we are left jostling with:
    • Do the majority of MPC members now agree that the necessary conditions for tightening (highlighted in the previous guidance) have now been met?
    • Has there been a shift in expectations regarding the temporary nature of inflation?
    • How hawkish is the new Chief Economist Huw Pill?
  • These questions are all interlinked and require us to look at developments since the last MPC meeting.
  • We discuss the market implications and summarise the views of 18 sell side analysts in the full MNI Bank of England Preview.

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MNI BoE Preview - Sep21.pdf

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