Incoming data shows the UK economy is outperforming the Bank of England's most recent round of forecasts, according to a leading economist.
The Federal Reserve will wait until June before cutting interest rates, but from this point, the pace of rate cuts could surprise markets.
Jonathan Haskel is the latest member of the Bank of England to warn there is no prospect of a rate cut over the coming months as the UK's labour market remains too "tight".
Wages are front and centre for European Central Bank deliberations over when to cut interest rates, and looming collectivised wage increases will ensure the first cut won't be until late in 2024.
The Bank of England's Governor Andrew Bailey warned that interest rates would not be cut "in the foreseeable future" as he expressed concern that inflation will prove sticky below 4.0%.
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