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Deutche Bank has changed its BoE rate call following today's UK Q1 GDP data release and pushed back its view of the first hike until November and assuming 25bps per quarter thereafter. "Our new forecast is therefore for rates at 0.75% by end-2011 and 1.75% by end-2012 (down from our original forecast of 1.00% and 2.50%)", wrote George Buckley at DB.
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