In my view, and I'm not prejudging the views of other independent members of the MPC, the economic outlook has deteriorated and some monetary policy easing will likely be required over the summer. In Tim Geithner's famous dictum, plan beats no plan. And in my experience, a plan that's clearly articulated and transparently executed is the best plan of all.
A plan for the UK's current challenges would include a comprehensive strategy for engaging with the EU and the rest of the world. Including clarifying the UK's future trading relationships, calibrating its openness to immigration, ensuring the continuity of capital flows, and confirming the appropriate regulatory framework for the financial system.