While the fourth quarter GDP data and the relatively healthy mix of the components further diminishes the chances of a near-term trimming of interest rates, we still believe a 25 basis point interest rate cut...

The immediate impression is that the inflation report is pretty neutral. It does little to encourage the view that the bank could trim rates in the immediate future.

This very much keeps the door open for an interest rate cut in February.

Year-on-year growth of 2.2-percent exactly matched the Bank of England’s forecast… reinforcing expectations that interest rates are set to remain unchanged for several more months to come.

Consumer confidence is faltering anew, which does not bode well for spending in the near term at least.

This (CPI data) very much keeps the door open for an interest rate cut in February, although the Bank of England may still prefer to wait while it monitors the strength of consumer spending and...

This is still a pretty benign report overall and broadly in line with Bank of England expectations contained in the February Inflation Report.

While it is clearly premature to sound the all-clear on inflation, the October consumer prices data are largely reassuring for the Bank of England and boost hopes that inflation has peaked,

While the CBI survey indicated a marked softening in consumer spending following the relatively strong December performance, it nevertheless indicated a significantly stronger performance than that seen overall in recent months.

This increased housing market activity has clearly led to some recent firming in house prices, and there is undeniably a risk that prices could move sharply higher over the coming months.

This confirms that late in 2005 there was still no evidence that pay was starting to be pushed up by recently higher consumer price inflation and increasing energy bills.

This reinforces our belief that consumer spending will remain subdued for some time to come despite September’s pick-up in retail sales.

The latest data – including the improvement in manufacturing activity and current strength of the housing market – has increased the odds that the eventual next move in interest rates will be up.

The February CBI survey reinforces our belief that consumer spending will be unable to sustain the relatively strong performance seen in the fourth quarter of 2005.

Healthy mortgage lending data show that housing market activity extended its recent firmer performance in December. This is also borne out by the latest survey evidence consistently showing increased buyer interest.

It currently seems a pretty safe bet that interest rates will not change for several more months to come, if at all this year.

Consumer credit growth was again relatively muted in September, pointing to continuing consumer caution,

The slowdown in euro zone growth will not deter the ECB from raising interest rates in March and a further hike remains very likely in June.

With economic growth likely to remain below trend in the near term at least and unemployment set to continue rising, there is a very real danger that individual insolvencies and mortgage repossessions will climb markedly...

The GDP data (is) unlikely to be weak enough to prompt the MPC into cutting interest rates in November,

The Nationwide data provides support for our long-held view that house prices will be unable to sustain sharp gains for some time to come.

The overall trade performance was dragged down by a fifth successive deficit in oil trade and a reduced surplus in services.

Consumer confidence held up relatively well in February, following January’s sharp bounce.

This is still a pretty healthy report overall that suggests that the service sector has started 2006 relatively strongly. The report does little to change perceptions that the Bank of England will keep interest rates...

House prices are likely to remain relatively flat for an extended period,

Relatively subdued consumer spending, intense domestic and international competition, and high input costs continue to dampen … the sector.

The minutes pour more cold water over the prospects for a near-term interest rate cut.

The euro zone’s upturn is still young and relatively fragile with significant question marks still hanging over the long-term strength of domestic demand.

Retail sales were significantly healthier than expected in September and August’s sales were revised up, going a long way to killing off already fading hopes of a November interest rate cut.

Our Sunday lunches have been an excellent flagship because that is often many people’s first experience of our menus.

For now at least, the Bank of England will be very wary that a trimming of interest rates could excessively stimulate the housing market and risk sending house prices markedly higher. It certainly further rules...

The MPC could remain on the sidelines for some months to come as it monitors the strength of consumer spending and the housing market, and also looks to see if high oil and energy prices...

The consumer is the weak link in the European economic upturn story. We’re past the worst, but it’s hard to see a marked improvement in spending coming.

Pretty healthy retail sales growth in November reinforces belief that consumer spending is picking up to some extent, and reduces the case for a near-term interest rate cut.

The earnings data may encourage the Bank of England to hold off from cutting interest rates in the immediate future as March while it seeks sustained clear evidence that the pay settlements for 2006 are...

The strength of the public finances in January effectively guarantees that Brown will be able to avoid making any major tax hikes or significant spending cutbacks in March’s budget.

We believe the door is opening for an interest rate cut early in 2006 if the economy fails to show sustained significant signs of improvement over the next couple of months.

Going forward, UK exporters will be fervently hoping that recent signs of improving growth in Western Europe will be sustained and will increasingly feed through to boost exports.

Mr Brown will clearly look to take advantage of the budget to further his credentials to take over as prime minister from Mr Blair.

The combination of rising unemployment, falling employment and muted earnings growth is hardly supportive for consumer spending or, for that matter, extended sharp house price increases.

This is likely to reinforce the central bank’s concern that any further trimming of interest rates could excessively stimulate the housing market and risk send housing prices markedly higher.

The sector may see modest expansion in the first quarter of 2006, having been a major drag on overall growth in the fourth quarter.

While we believe that it is premature to rule out another 25-basis-point cut before the end of this year, we acknowledge that the odds are increasing that it will be delayed until early 2006.

With one member of the MPC voting for an interest rate cut in December and Bank of England chief economist, Charlie Bean, recently making some dovish comments, the odds of an interest rate cut early...

There is undeniably a growing risk that house prices could move markedly higher over the coming months. Indeed, this risk is clearly showing more prominently on the Bank of England’s radar.

It appears that significant discounting is still needed to boost sales volumes.

This subdued growth is expected to help to contain underlying inflationary pressures and risks, underpinning our belief that interest rates will be cut by a further 25 basis points in February or March.

Flat export orders in February are particularly disappointing.

We still believe UK interest rates will eventually be trimmed by a further 25 basis points, although not until August at the earliest.

No change was no surprise, given recent overall evidence of modestly stronger economic activity and a more robust housing market.