Market interest rate assumption based shows first rate hike fully priced in for q4 2019 (feb forecast q1 2019)

Shows inflation in two years' time at 2.20 pct (feb forecast 2.56 pct), based on market interest rates

Expects q2 gdp growth of +0.4 pct qq, expects q1 gdp growth to be revised up to +0.4 pct from +0.3 pct

"Some" MPC members would need relatively little upside news on growth or inflation to consider voting for tighter policy

Policy outlook depends on weak pound boosting cpi but not longer-term inflation expectations, modest pay growth near-term to pick up significantly

Consumption to recover once wages pick up, in short-term will be offset by better net trade and investment