BoE seen in wait-and-see mode according.....>

UK VIEW: BoE seen in wait-and-see mode according to majority of analysts:

- Citi: Overriding message is likely to be similar to May. MPC in wait-and-see

mode, and a hike will follow if/when there is clear evidence that the economy is

regaining momentum. Hence, main attention will be on any signposts for August

where a rate hike continues to be our base case.

- TD: Expect MPC to leave policy on hold, with 7-2 vote (risk of 6-3). likely

want to wait one more data cycle before making firm decision on Aug hike.

- Morgan Stanley: Expect no change with a hawkish outlook but waiting for

stronger data before acting in August. Conviction low after mixed data.

- BAML: Expect holding position and keep guidance of 1 hike a year but suggest

timing is data dependant. Statement likely fall short of committing to August

- Barclays: Believe MPC could introduce some new caveats in its existing

communication, cooling down August interest rate expectations.

- Lloyds: MPC is likely to wait for more info on activity in current quarter

before moving rates, thus no change in rates expected with McCafferty & Saunders

continuing to vote for a hike.