BoE DMP (Mar): 1yr ahead CPI expectation 3.5% (prev. 3.00%), 3yr ahead CPI expectation 2.7% (prev. 2.8%)
- Overall uncertainty rose, with 57% of firms reporting that the overall level of uncertainty facing their business was high or very high, up by 10 percentage points from February.
- Firms are adjusting their expectations as a result of the recent increases in energy prices.
Context
The Bank of England's March DMP data indicates a rise in one-year ahead CPI expectations to 3.5%, up notably from the previous 3.0%, suggesting heightened inflation concerns. This shift, alongside increased business uncertainty with 57% of firms reporting high levels of uncertainty, could impact the BoE's policy direction as firms reassess their strategies amid rising energy prices.
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