We’ll be old and grey before we get a BOE hike according to forecasts
JPM have pushed back the forecast for a BOE hike until Q1 2017 from Q4 2016
One of the reasons we didn’t see a big move lower in the pound on the crappy services number is because virtually everyone has scrubbed a hike from their near term outlooks. There’s nothing left in that tank that’s not priced in so the bad data has nothing more to add to the rate trade.