I guess there is room for a cut....Will they though?.

For what it is worth (don't put a lot into it), the ex BOE Bean is on the wires saying that the BOE has room to cut rates further. He makes his comments on a Bloomberg TV interview.

In addition he adds that the UK treasury has room for temporary fiscal stimulus.

Yes, the BOE has room to cut further. They said as much today and the fiscal stimulus idea is the stimulus idea now that rate cuts have been found to be more and more like pushing on a string.

Needless to say the GBPUSD traders said "Bothered"