It may be little more than pre-election hype, but there is a growing feeling that the UK economy could achieve a soft landing in the coming months. This would be a far cry from the fears of a deep and long-lasting recession which gripped the market as the Bank of England appeared to be stuck on a “treadmill” of twenty-five basis point interest rate hikes that appeared to be never-ending as inflation remained stubbornly high.There is no definitive agreement on what constitutes a soft landing, particularly since it is a rare occurrence in the global economy while in the UK, particularly post-war, it has never happened.When considering the UK economy, a soft landing would typically be considered should the rate of unemployment fall to and remain below its long-term average while consumer prices are at, or close to, the Government's two per cent target.The Labour Party will dread such an event because although the Government cannot claim to have been instrumental in the fall in headline inflation in recent months, the Prime Minister promised that inflation would be halved during his first year in office, a goal that has been easily achieved.Beyond Currency Market Commentary:Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.