UK NIESR estimate UK economy grew 0.2% 3mth up to Aug. (vs 0.6 in July)
They say BoE will expand bond program if weakness persists (which it is in their mind)
These guys been pretty good at predicting GDP numbers.
If 0.2 is correct then that equates to -0.3 GDP (without special factors riots)
QE2 tomorrow? …HSBC are not calling for this just yet, but sense mkt putting it at a 20 delta chance tomorrow
Reatil base buyers of GBP sub 1.6000 for now…Macro flows light
HSBC Global Research