- 2015 CPI cut to 1.4% vs 1.7%
- inflation rate likely to fall below 1% within 6 months but sees 2% target at end of 3-year forecast period
- 2015 GDP forecast cut to 2.9% vs 3.1%
- 2016 GDP cut to 2.6% vs 2.8%
- surveys point to subdued growth
- forecasts based on market expectations for Oct 2015 initial rate hike
- pace of rate increases to be gradual
- global growth outlook has weakened
- UK outlook weaker, sees downside risks from Eurozone, upside risk from US
- sees income growth and foreign demand underpinning economy
- MPC has wide range of views on level of slack
Full report here
I don’t see anything GBP positive in this overall
