{GB} Reminder this wk

The domestic highlight of the week ahead will be the Treasury Select Committee hearing on Wednesday with Governor Bailey, Broadbent,

Ramsden and Tenreyro all due to testify. Since the MPR was released we have received some mixed June activity data (services stronger than expected but manufacturing and construction weaker) but then we have seen softer CPI and
retail sales data for July and mixed PMI data for August.
Market pricing has focused most on the CPI print (although there is still the expectation that inflation will increase later in the year) while labour market data was largely in line with expectations on the headline measures but the experimental PAYE data showed some promise.

In addition to the TSC hearing on Wednesday we also have Saunders appearing

in an “Ask the expert” event for Intuit tomorrow and another appearance tomorrow morning from new MPC member Catherine Mann (whose comments overnight

focused on developments in the US but did nothing to change the market’s view

that she is likely to be on the dovish side of the Committee).