Services performance was encouraging especially given the glimmers of hope on the domestic demand side.
More Quotes from Alan Clarke:
Growth has come back and there's still some further improvement left in the pipeline. I think the sentiment on the rate-setting committee is also evolving. With the data continuing to improve we could see a 9-0 vote fairly soon.Alan Clarke
Overall, this reinforces signs that we have seen the worst news on UK activity.
Alan Clarke
Since mid-2005 there have been concrete signs that the consumer is bouncing back and there is evidence from individual retailers as well as the key surveys that the critical Christmas period saw very robust retail spending.
Alan Clarke
Mortgage approvals highlight a significant probability that we will see double-digit house price inflation this year. The MPC would do well to learn from last year's mistakes and react sooner rather than later.
Alan Clarke
The worst news on UK inflation is yet to come. The probability of a further rate cut is clearly reducing.
Alan Clarke
For now, the 8-1 vote will provide ammunition to the doves that expect the next move to be a cut.
Alan Clarke
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