After the Bank of England rate hike Deutsche Bank on what to watch to trigger another hike

ICYMI on the Bank of England rate hike Thursday:

• BoE Hike 25 bps 7-2 vote split

• More from Bailey: We don't know if 4.25% will be a peak in rates
• BOE's Bailey: We believe inflation will fall quite rapidly befor the summer

Response via Deutsche Bank, in brief:

• Forward guidance remains very much data dependent
• the bar for another hike is lower than we previously thought ... the case for another hike is still very finely balanced
• What will determine whether the MPC hikes again or not? Services inflation, average weekly earnings, and credit conditions will all be key (among other peripheral things). While we see some upside to growth and pay, we see some downside to services CPI and credit conditions, leaving the May meeting outcome a difficult decision to call. On balance, we see more downside risks than upside. As such, we hold onto our call for Bank Rate staying put at 4.25% with risks tilted to one further hike in May.

Bank of England Governor Bailey