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GBP down on dovish BOE minutes

- 2 MPC members still support a 0.25% rate hike
- Inflationary pressures remain too weak to justify a rate hike (majority says)
- UK GDP growth may slow in Q4
- Downside risks to economic growth increased
- Geopolitical risks up
- Economy vulnerable to shocks and household debt
- Pound strength puts a downward pressure on inflation
- Eurozone weakness and Scottish referendum are the negative factors


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