Continued employment growth could suggest spare capacity and BoE's tolerance of above-target cpi is being eroded

Cpi inflation could exceed 3 pct by the autumn, sterling fall since may inflation report will add to this if sustained

Possible some house builders might reassess construction plans if weakness persists

Recent weakness in housing market partly driven by same factors hurting consumer spending

Remains to be seen how large and persistent UK consumer slowdown will prove, notes confidence resilient

Expects q1 gdp growth to be revised up to 0.3 pct, sees q2 growth of 0.4 pct

"Striking" that UK wage growth remains so weak relative to historic norms