Growth has slowed markedly over the last year, both overseas and here.
In the UK, the economy has barely grown since the first quarter of last year and the YoY growth in GDP has fallen below 1% for the first time since 2012
It probably will be appropriate to maintain an expansionary monetary policy and also to possibly cut rates further
Neutral level of interest rates may have fallen further over the last year or two
Monetary policy space is limited
Risk considerations favour a relatively prompt, aggressive response to downside risks
Most likely outlook is a further period of subdued growth
Brexit uncertainty may continue, weigh further on the economy
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