There’s hawkish for you. Comment has given cable a lift, presently back up at 1.5925.

  • Inflation may remain above 3% in Q2
  • May remain above 3% into 2H
  • Wage growth may be inconsistent with 2% target
  • Expect weak output data for 1Q, 2Q
  • Surveys suggest growth in underlying activity
  • UK rebalancing has some way to go
  • Firms need more sources of funding
  • Inflation may be more stubborn than forecast

Dow Jones reporting.