The likelihood of any great surprises being thrown up here is somewhat slim given we will have had most of the detail in last week's inflation report
But we must always expect the unexpected and as usual dig below the headlines for any nuggets of gold that will get markets racing
A vote of 9-0 to keep interest rates on hold is expected and I see no reason to argue with that. Yes there have been voices of concern that rates should move higher sooner rather than later but equally there have been arguments put forward for further easing.
However, the last Minutes (here ) suggested an agreement to disagree but with the consensus that the next move in interest rates is more likely to be up as confirmed last week by MPC member Shafik
Personally I don't see the BOE in any rush to raise rates and I have warned against it for a long time on these pages and elsewhere.
There will have been plenty for the MPC to discuss though and as per Carney's remarks last week we should expect some more detail on their view of the govt's fiscal policy being a drag on monetary policy and the economy.
He was very vocal on that point but less clear on the problems of a stronger Pound although his intimations were that the overall strength was also causing problems. We will look to see whether any more detail on that from him or other members is forthcoming. And expect plenty of his current "productivity" buzzword
GBPUSD currently 1.5475 on the slide again this morning and we can expect rally sellers between 1.5525-50 for the moment. EURGBP is also on its lows though at 0.7153 as the euro continues to slide
With the MPC out of the way the focus will turn to the FOMC Minutes later, if they haven't already
