- I think there are upside risks on inflation in the medium-term
- Supportive of forward guidance that there may well need to be further tightening in the coming months
It is fitting with what they have laid out last week but their forecasts on the economic outlook sort of undermines their message on tighter policy. I don't know. The BOE sounded extremely confident at the start of the cycle but has toned that down significantly in the past few months. In case you missed the May meeting decision, it can be found here.
