El Nino forecast update

I see that the BOM put out an update earlier this week, confirming that an El Nino is very likely, and could be confirmed by about July:

The likelihood of El Niño remains high, with all climate models surveyed by the Bureau now indicating El Niño is likely to occur in 2014. Six of the seven models suggest El Niño thresholds may be exceeded as early as July. 

The Pacific Ocean has been warming along the equator over recent weeks, with continued warming in the central Pacific likely in coming months. Another burst of westerly winds is presently occurring in the western Pacific, and is likely to cause further warming of the sub-surface.

El Niño has an impact across much of the world, including below average rainfall in the western Pacific and Indonesian regions, and increased rainfall in the central and eastern Pacific. For Australia, El Niño is usually associated with below average rainfall, with about two thirds of El Niño events since 1900 resulting in major drought over large areas of Australia.