MNI BOE Preview and UK Data Insight: April 2026

Hidden PDF

• We preview next week's MPC meeting where we see Bank Rate on hold with a 7-2 or 6-3 vote split (with Mann, Pill and potentially Lombardelli as hawkish dissenters).
• We also round up the major datapoints and review each in turn: labour market, CPI data, the DMP survey, flash PMI, Brightmine wage data as well as pulling in the highlights of the BOE Agents' Survey.
• We discuss the view each MPC member is likely to hold and summarise the highlights of their recent comments.
• In terms of the opening statement, we don’t think there is enough agreement within the MPC as to whether the risks of second round effects are higher than downside risks to inflation from a potentially slowing economy and therefore expect the guidance to remain very non-committal.
• We will update our preview next week to include summaries of sellside views.