ING analyst Chris Turner says the Bank of England's upcoming financial stability
report could indirectly support gilts and lift sterling if the BoE excludes
gilts from its leverage exposure metric, which currently requires banks to hold
3.25% CET1. ING says that could boost domestic demand for gilts, reduce
government borrowing and ease financial conditions. Turner adds EUR/GBP could
fall toward 0.8500 if implemented.
