More sell-side institutions have switched to....>

BOE: More sell-side institutions have switched to Jan BoE cuts today including:

- TD Securities: "Today's poor retail sales report was the final nail in the

coffin for our BoE call. We now look for a rate cut this month, plus a follow-up

cut in May. The economy seemed to be heading into 2020 on a much weaker footing

than we had anticipated. We are skeptical that sentiment will pick up

sufficiently in order to boost investment and growth to begin the year."

- Societe Generale: "The low inflation and retail sales data this week tip the

balance towards a rate cut. With 4Q and 1Q GDP growth also set to disappoint, we

expect that cut to be followed by a second in May. At this stage, we do not

expect a re-opening of the QE programme."