SUMMARY OF ANALYST VIEWS: There is a growing....>

BOE: SUMMARY OF ANALYST VIEWS: There is a growing divergence of views among

sell-side analysts with respect to Bank of England monetary policy.

- Most analysts expect a unanimous 9-0 vote to keep policy unchanged, but some

cite risks of a dissenter voting in favour of a rate cut. JP Morgan are the only

bank in our survey that explicitly expects Saunders to dissent in an 8-1 vote.

Most who mention the possibility of dissent also state that Vlieghe could

potentially dissent.

- Views are split between whether the Bank's "limited and gradual" forward

guidance remains intact. A slight majority expect this line to remain unchanged

while some expect more conditionality to be added and others expect a more

balanced guidance statement.

- A number of analysts now expect cuts next year, but many argue that this is

difficult to signal during an election campaign so expect more wholesale changes

to be made in January when future government policy becomes somewhat clearer.

Deutsche Bank acknowledge a January cut is more likely but don't rule out a

December cut that "should survey and hard data deteriorate significantly."