carl weinberg says the boe will not be hiking again this year. ey will not be able to hike. and: the economy is slowing we saw that most obviously in the gdp number. retail sales are weak. wages are dead flat. i all indications, the u.k. economy is in a slow down. credit growth is slowing. what is the rationale for hiking rates in an economy where inflation is temporarily above target, but headed back to target this summer, where wages are pretty well behaved or accelerating? the only argument i can see is on the labor market right, the unemployment rate is very low. as long as the market is open to immigration, the market can tighten up. i think the course they will choose will be in the face of uncertainty, to do as little harm as possible, and wait and see what happens. francine: the outlier call that you have would go against the idea that they need tools to deal with the downturn, or something ugly happens with brexit. do they not need a toolbox, and the only way to replenish it is by hiking? carl: they had their opportunity to do that and th