Sterling cuts gain vs dlr after dovish BoE minutes

LONDON, Nov 19 (Reuters) - Sterling cut early gains versus the dollar and euro on Wednesday after minutes from the Bank of England's last policy meeting showed a 9-0 vote to slash rates by 150 basis points and that a bigger cut was considered.

However, minutes from the Nov. 5-6 meeting on Wednesday showed policymakers did not want to dramatically shock markets and felt they could wait to assess how far rates needed to fall after the government's pre-budget report [nBOE001641].

By 0936 GMT, sterling stood at $1.4966, flat on the day and down from $1.4987 seen just before the minutes were released.

The euro was down 0.15 percent at 84.18 pence <EURGBP=>.

"The minutes are consistent with the view that they will cut rates more in December," said Audrey Childe-Freeman, currency strategist at Brown Brothers Harriman in London.

"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," she added.

(Reporting by Naomi Tajitsu and Veronica Brown)