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The Bank of England has taken markets by surprise, with two members voting for an immediate cut. But aspects of the Bank's new forecasts are not as dovish as we might have expected. While a lot depends on Brexit, we suspect it's too early to be pencilling in policy easing just yet
1) At face value, the Bank's decision is dovish
At face value, the Bank of England's latest monetary policy decision is more dovish than expected.
In a surprise move, two committee members voted for an immediate 25bp