Thomson Financial News - Even with above-target CPI inflation, we do expect the Monetary Policy Committee to cut rates further this year. Nevertheless, with various inflation worries -- the likely near-term pick up in CPI inflation, the high level of inflation expectations, cost pressures from commodities and perhaps pay, plus the weak pound -- we expect that easing will be spread over the course of this year as weak economic data emerge, rather than front-loaded into the next few months.