UK BoE doves consolidate roost internally – Nomura

The Research Team at Nomura notes that the key takeaway from last week's BoE inflation report was that inflationary pressures are sufficiently subdued to keep rates at current level for another year or so.

Key Quotes

“The official bottom line of last week's BoE inflation report was that inflationary pressures are sufficiently subdued that rates do not need to start rising for almost a year. Unofficially, the MPC does not share the resilience to headwinds of even doves, and thus it is unlikely to hike before the May general election.”