But seems some felt that more QE would likely be needed in the future
- One member thought there was good case for more QE in September, although most felt it was ‘relatively straightforward’ to leave QE unchanged this month
- Oil price rise and rises in food and utilities points to a higher short term inflation outlook
- Middle East tensions may lead to higher oil prices
- Bank lending rate cuts were encouraging but benefits would take time to be noticed
No surprises here as cable ticks away in the low 1.6250’s
