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UK VIEW: HSBC believe that BoE rate rises are off the table. The bank notes that
"in a late change to our long-held view, we expect the BoE to vote by 7-2 in
favour of keeping rates at 0.50% on 10 May. Given recent comments and weaker
data, the MPC is likely to wait for a clearer steer on the underlying trend in
activity. To us, the outlook points to no further UK interest rate rises this
year or next."