Following the dovish shift at the last MPC......>

BOE: Following the dovish shift at the last MPC meeting in November, the Bank of

England is expected to leave policy unchanged at the December meeting. Although

policy uncertainty has been reduced after the Conservative Party secured a

majority at the recent general election, the MPC may still wait to assess the

trajectory of the economic data and government policy following the vote.

- Baseline: No change in policy, with the 7-2 MPC vote split remaining

unchanged. 

- Dovish: Additional dissenters join Jonathan Haskel and Michael Saunders in

calling for a 25bps cut to the bank rate. The BoE stresses the continuing

uncertainty around Brexit.

- Hawkish: The BoE highlights the reduction in uncertainty following recent

policy developments and the vote composition returns to 9-0.