As well as a change in BoE rate view,
economists at Goldman Sachs have also alterered their Fed call. GS says
that "with the boost from fiscal stimulus gone and the impact of
tighter credit conditions working its way into the real economy, US
economic activity has decelerated sharply in recent weeks....The
recession that we have been forecasting now looks likely to be deeper
and longer, taking the unemployment rate to 8% by late 2009 and pushing
the Fed to cut interest rates to 1% or lower".