Comments from the BOE:
- It's useful to have negative rates as a possible tool
- BOE balance sheet action should be counter cyclical
- QE works best when markets are impaired
- Inflation gain likely due to energy and will be temporary
- We are not yet seeing strong evidence of input prices passing through to consumer prices
There's nothing in the comments so far that would have an impact on GBP but we'll continue to monitor.
- Ramsden: UK has seen a small gain in inflation expectations
- Ramsden: UK inflation expectations remain very well anchored
- Ramsden: BOE is 'very vigilant' to inflation expectations
- Broadbent: The BOE is focused on inflation 1-3 years out
