In this briefing:
1. Preview: BoE Stuck in the Brexit Quagmire
- Excess UK demand and inflation continue to put hawkish pressures on the MPC, but Brexit uncertainty justifies postponing a more hawkish signal or action.
- I expect the MPC to vote for no change in policy unanimously and not prepare for a Feb-19 rate hike. A May move is a more likely but still state-dependent outcome.
