UK economists at Pantheon Macroeconomics, have revised their forecast for the Bank of England's first rate cut to June from May. This adjustment is grounded in strategic timing, allowing the Monetary Policy Committee (MPC) to consider additional economic data before making a decision. Specifically, waiting until June enables the MPC to review labour market data from April, which will reflect the impact of the National Living Wage (NLW) increase on wages. Additionally, this delay provides the opportunity to assess two more Consumer Price Index (CPI) reports, anticipated to reveal inflation rates below the 2% target. ... (full story)