BoE: Will it hike in May? - Nomura

Analysts at Nomura think that the BoE will hike in May, but suggests that the Bank is not going to completely ignore the incoming data, which has been on the weaker side (even if much of it does appear to have been subject to a temporary snow-induced slowdown).

Key Quotes

“So, for the time being, and before all of the monthly data are in (see comments below for more on this), we still on balance expect the MPC to raise rates next month. We expect it to focus on the inflation outlook at the 18-24 month horizon (i.e. “conventional” policy-making) and judge that due to adverse weather in Q1 there is good cause to look through the recent soft patch.”