Surging energy prices have complicated the MPC's March policy decision. On balance, we still think the committee will raise Bank Rate to 0.75%, but a bigger hike is now doubtful. Moreover, we expect the MPC will adopt a cautious tone around the pace of subsequent tightening.
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Topics: Forecasts, United Kingdom, Europe, Economic outlook, Inflation, MPC, Covid19, Outlook, UK, Energy prices, Bank rate, England