BOE: Leaves rates, QE stock unchanged in majority at.>

BOE: Leaves rates, QE stock unchanged in majority 7-2 vote at Nov meet

--Bank Rate unchanged at 0.75%, QE stock unchanged at combined stg445bn

--Saunders and Haskel dissent, vote for rate 25bp rate cut

--Brexit conditioning assumptions changed, adopts new trade relationship

--Monpol response to Brexit 'not automatic' could be 'either direction' 

--Sees inflation below target over coming months

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The BOE voted by a majority of 7-2 to leave the bank rate unchanged, 

voting unanimously to leave QE unchanged. The MPC continued to state 

that an increase in rates will occur at a gradual pace and to a 

limited extent if forecasts pan out. However, Brexit assumptions have 

been changed, now conditioned on a "deep free trade agreement" between 

the UK and EU. The BOE sees inflation below target until Q3 2021, 

dropping as low as 1.17% in Q3 2020 pressued by energy prices and 

domestic water bills, eventually rising to 2.25% at the end of the 

forecast period.