June 27, 2022
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UK Politics: “False Friends”?

  • Although it would be a stretch to see Oliver Dowden as Brutus to Boris Johnson’s Caesar, the former’s resignation after last week’s by-election defeats suggests that the Prime Minister needs to be increasingly wary of his ‘friends’ on the backbenches and even in the cabinet.

By Alastair Newton

June 24, 2022
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UK: Retail Resilience Revealed as Mirage

  • April’s surprise surge in retail sales was revised away, yet May still contracted for the ninth time in the past year. Hawkish hopes of retail resilience were built on sand.
  • High inflation is squeezing real incomes and consumption volumes as a natural progression of the pressures burning themselves out without hyperactive tightening.
  • Overdoing rate hikes risks recession, but the housing market canary seems alive and well. Less depressed supply is finding demand, consistent with house prices not falling.

By Philip Rush

June 24, 2022

Pill - What did the monetarists ever do for us?

Huw Pill talks about the challenges for monetary policy after Covid.