INSTANT VIEW- Bank voted 9-0 for 150 bps November rate cut

LONDON (Reuters) - The Bank of England voted 9-0 to cut interest rates by 150 basis points to 3.0 percent this month, minutes of the rate setting meeting showed on Wednesday.

ANALYST COMMENT

ROSS WALKER, RBS FINANCIAL MARKETS

"I don't think there is any great surprise. I think maybe the difference is that they are a little bit more revealing in terms of the cuts that were being discussed and therefore you can infer from that what's to follow.

"We can all see from the inflation report forecasts that significant further policy easing would be necessary but the fact that they talk more explicitly about possibly a reduction in excess of 200 basis points in November sheds a little bit light than might normally of been the case. "The fact that there was such a radical cut suggested to us that there had been a fundamental rethink within the committee. And quite possibly a new consensus forming, certainly a significant narrowing between the hawks and the doves.

AUDREY CHILDE-FREEMAN, BROWN BROTHERS HARRIMAN

"The minutes are consistent with the view that they will cut rates more in December. The minutes show there's nothing to stop the BoE from cutting more than 50 basis points, and a 100 basis point cut is possible next month.

"They are suggesting they will look at the pre-budget report to reassess the magnitude of future rate cuts, so they are putting importance on Monday's report.

"It's confirming that we're going to see more rate cuts from the Bank of England, and more aggressive rate cuts.