If you look at that chart there's no way the core inflation isn't going to fall below 2% without a rate cut in 2024 IMO. The trajectory is too steep & the impact of previous increases are still filtering through.
The risk now is more of a hard landing than persistently above target inflation.
It'll all end in tears at some point 2024 but IMO by the end of 2024 we'll be on a much better trajectory all round.
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