Nick Goodall

like you said that has an influence on where inflation goes and that's why it's so important right even though they're not trying to go oh we need to speed up the economy so actually what the economy is doing is going to have an influence on inflation in six nine twelve months whatever it is and that's why it's so intertwined and that's why i think you get strong debates on this we can probably talk forever about it because there's no one read on this and that's why i always say we can say what we suggest they should do or whatever as much as we want it's really about what we think they will do

how we've learned from their style or their expectations and how they speak as to then what they're going to actually decide to do as well, which is why I think they'll speak tomorrow.

We'll certainly pay close attention to that.

I think from an oil perspective, you know, we haven't really heard from the government.

I think they're pretty close to agreeing what sort of support they're going to provide for petrol prices, probably in particular.

It doesn't sound like it'll be very broad, but that's OK.

But once we know more about that, too, that'll give us a feel for

how much true inflation people will be feeling on this as well and how much it'll be across the board or for certain sectors or for certain, if it's in business or if it's just at the lower income or whatever, maybe more targeted.

We haven't really heard from that too.

So that's going to have an influence, I think, on a broader perspective.

So yeah, that's why I think it's so interesting at the moment.

The other thing I just want to touch on really briefly was we did have a couple of other, you know, those faster moving economic releases.

We had the performance of services index, which is obviously a pretty important one for February, came out last week.

That wasn't really good, but then the retail card spending data was better.

Selected price indices data, which I think makes 45% of the basket that came through too, showed higher inflation than expected in February.

So look, I don't want to go into too great a detail here, but I think ultimately, again, all this does is reinforce what we're talking about, which is we've got a stuttering economy.

It still hasn't even taken off

you know, really before all this conflict happened, it's going to have downward pressure on the broader economy.

And so, you know, we're in a pretty precarious position from an economic perspective.

And as you said, that means probably some downward pressure on inflation over the longer term.