BOE statement doesn't do much for the pound

The pound is barely changed from the BOE decision earlier and rightfully so

There isn't much in the statement to offer much new direction for the quid really. The key takeaway that I can see is that the central bank sees greater Brexit uncertainty at play and some risks to come from global trade tensions and emerging markets - though nothing major from the last two.

However, there's no mention of any serious threats seen from Brexit that we haven't already heard of and that means there isn't anything too bearish to linger on. Apart from that, they raised their Q3 GDP growth estimate from +0.4% q/q to +0.5% q/q in what is a positive development to the growth outlook.

But again, it's nothing substantial really. The focus of markets now will turn to the ECB, once everyone gets over the hype generated by the Turkish central bank in boosting emerging market risk sentiment that is.