Latest client notes all courtesy of our friends at
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JP Morgan: On Hold, QE Extension In December
We no longer expect a rate cut and think that a decision to extend QE
beyond March 2017 will be taken only in December. In addition, we think
the staff will assume only a modest 0.2%-pt hit to the level of GDP
from the Brexit vote, taking a tenth off 2017 and a bit off 2018.