The BOE MPC voted unanimously 9-0 to keep rates and QE unchanged at their last meet.
August was seen as a better time to reassess quantitative easing.
Q-2 GDP fall likely to be smaller than MPC had thought 2 months ago. Thank heavens for small mercies.
Surveys suggest that more momentum going into second half of year.
Cable has seen a relief rally, presently at 1.6365 compared to around 1.6335 at the time of the minutes being released.
There does seem to be a fairly strong feeling in certain quarters that the bank will move to extend QE at the their next policy meeting on August 6th. Personally think it’s too close to call.
