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- "While in many ways the Bank of England was ahead of the crowd shifting towards removing accommodation last fall, more recently the BOE's tightening plans are hardly leading the way. At the same time, the Spring Statement focused on tax cuts and was more back-loaded than we had expected, leading our economists to trim their forecast for growth this year and next,"
- "In addition, building expectations for more rapid rate hikes from the Fed and the ongoing crisis in Europe seems somewhat inconsistent with the relative resilience in riskier assets, so we see room for tactical caution and Sterling tends to underperform in a risk-off environment,"
