BULLET: -BOE: Sterling Effect Fades Faster Than Expected; at.>

-BOE: Sterling Effect Fades Faster Than Expected; CPI at 2% By Q3 2020

-BOE: Market Rates Consistent With Three 25bp Hikes Over Next 3 Years   

-BOE: Near-Term Growth Revised Lower On Weak Q1; Snow Impact Uncertainty                 

-BOE: CPI 2.13% In Q2 2019 (Market Rates); 2.03% Q2 2020; 2.00% Q2 2021      

-BOE: GDP 1.74% In Q2 2019 (Market Rates); 1.72% Q2 2020 and Q2 2021  

------------------------------------------------------------------------       

Updated MPC forecasts showed CPI inflation returning to target within 2 

years, quicker than est in Feb, conditioned on a path for Bank Rate that 

emobodied "around three 25bp rises over the next three years". The 

sterling pass through was judged to have run faster than anticipated, 

but the MPC believed the upward pressures from the import channel had 

now peaked. The growth forecast path was broadly unchanged but was 

nudged down in the near-term (1.4% 2018 Q2 vs 1.8% Feb) following a weak 

Q1. Average weekly earnings were revised slightly lower near term, while 

the jobless rate was seen falling to 4.0% in Q2 2019 and thereafter.