Macro Matters is now part of the LGIM Blog, and still represents the views of our economists, strategists, and fund managers from our asset allocation team.
The UK’s furlough scheme has now ended. There’s still no sign of labour-market stress in Google searches, suggesting limited slack in the post-Brexit UK labour market. We believe this keeps the door open for a rate hike this year if the Bank of England wants to tighten policy pre-emptively to keep inflation expectations in check. ;