From a rates perspective, this release will provide a much needed tonic to those looking for lower UK rates.

229

Gilts rallied, as the BOE minutes had something for everyone. The market may have chosen to focus on the softness of growth.

211

While net exports corroborate the bank's view that the external sector poses a downside risk, the fact that the record deficit was driven by stronger domestic demand, means that they don't feel the need to respond with lower rates for now.

205

These data do further indicate that the housing market has stabilized at a much less ebullient level than seen in the recent boom years. We continue to look for modest house- price inflation going forward.

196

The market has reduced speculation about the likelihood of rate cuts anytime soon as the data is coming in pretty robust.

181

The survey was much weaker than expected indicating the bank's rate cut has done little to assuage the malaise that continues to afflict the U.K. consumer.

171

We have a fairly pessimistic outlook on U.K. growth. Our interest-rate outlook for the U.K. going forward is favorable for bonds.

159

The core reading gives no evidence to substantiate the bank's concern over energy prices feeding through into higher wages.

139