26 Quotes by Jonathan Loynes

Today's cuts add a bit of pressure, ... but they're not the key factor. We're at dramatically different stages of the economic cycle (from Europe), and there are perfectly good reasons for the MPC to lower rates aggressively regardless of events on the Continent.

There are no very significant indicators that the market is getting too expensive.

While the stronger-than-expected rise in British GDP put a further dent in the prospects of an interest rate cut in February, we still expect the combination of sluggish growth and falling inflation this year to prompt a modest loosening of monetary policy.

To hit Mr Brown's forecast now, quarterly growth would have to average around 1.0 percent in the remaining three quarters which looks very unlikely.

It would have been better to have left the growth forecast unchanged, but that would have lowered the inflation forecast to below its target. They are having to work hard not to have to cut interest rates.

The stronger tone of recent data was clearly enough to prompt most members of the MPC to vote to keep interest rates on hold today, but we would not be surprised if the decision was rather closer than the markets seemed to think.

The MPC has acted early and aggressively. The soft landing scenario is still on track.

A dovish Inflation Report tomorrow and soft retail sales on Thursday could open the door to a March rate cut.

A very weak report, casting doubt on the Monetary Policy Committee's assumption that household spending will grow in line with its long-term average over the next three years and boosting the chances of a rate cut.