- Resilience likely to persist in Q3
- Manufacturing is solid and consumer confidence rebounded
- Labour market robust
- Growth in employment continues to slow
- Near term outlook has improved
- Growth will be bolstered by business and housing investment
- Exports held back by competitiveness challenges and trade policies
- Refining margins made strong contribution to inflation
- Wages don’t show a response to higher energy so far
- Wage tracker points to modest uptick in H1 of 2027
- We did not debate the future rate path, discussion was focused on today’s decision
- We are predominantly facing a supply shock
- Markets do what they have to do
- There is nothing to report about me
- Decision was unanimous and was a no brainer
- Post-cutoff data suggest even higher 2026 growth than in projection
- I’ve been surprised by economic resilience
- Inflation has been lower recently than anticipated, especially food
The ‘no brainer’ line and some other comments were surprisingly hawkish.
This article was written by Adam Button at investinglive.com.
