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Analyst Views: Hawkish to Dovish (1/4)

BOE
SocGenStill look for 25bp hikes in Jun22, Aug22, Sep22 and Nov22 but risks to the downside. Gilt sales "likely" later in the year, possibly Sep22.
JPM25bp hikes in Jun22, Aug22, Nov22, Feb23, May23, Aug23 to 2.50%. GBP2-3bln/mth active gilt sales from Nov22. Think BOE sees itself hiking 1-2 times more this year then stopping.
GS25bp hikes in Jun22, Aug22, Nov22, May23 (risk of pause if growth disappoints); 25bp cut in Nov24. Gilt sales to begin Sep22 meeting (risks of later) at pace of GBP20bln/quarter.
Nomura25bp hikes in Jun22, Aug22 and Nov22. Next hike brought forward after three votes for 50bp in May. Active gilt sales start early-23 (ann Nov22) with risk of earlier.
DanskeNow look for 25bp hikes in Jun22, Aug22 and Nov22 "recognising that the Bank of England is probably not ready to slow the rate hike pace just yet." Active gilt sales to start Q1-23.
BofABase case 25bp hikes in Jun22, Aug22, Nov22 with risks of only 2 hikes. Look for a cut in 2023. Now look for QT to begin in Sep22 but with risk of no sales in 2022 or 2023.
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