In a note released on Friday Nomura.........>

UK VIEW: In a note released on Friday Nomura stated that "there is nothing in

the forthcoming economic data that can be strong enough to persuade the BoE MPC

to vote collectively for a rate rise in May. It is even possible that the two

members that voted for a rate rise at the March meeting may pause for thought.

Assuming, however, that what we are seeing is a temporary pause for breath in

economic momentum rather than a more permanent slowdown, we feel it is

reasonable to shift the starting point of our view of one 25bp hike every six

months out by one quarter - i.e. rather than raising rates in May, we now see

the next move being in August this year followed by hikes in February and August

in 2019. That in turn will delay until later in 2020 or even early 2021 our

forecast of when the Bank begins to allow its QE programme to roll off."