BoE: Hike before 2019 is not guaranteed - ING

At this stage, analysts at ING don't think the Bank will be that phased by the tumbling value of the pound. Sure it will add price pressure, but what the BoE is really interested in is domestically generated inflation - and there are few signs of that at the moment, they further add. 

Key Quotes

“With wage growth set to remain below inflation for much of the next 12 months, consumer spending is likely to remain sluggish. At the moment, there are few signs that other areas of the economy - investment or exports - will fully offset this loss of momentum.”

“So we still think a rate rise is unlikely to come before the second half of 2018 and more likely in 2019. But the pound's recent fall does mean that the Bank will stay relatively hawkish on 14 September as they try and keep two-way rate risks alive in markets.”