The BoE minutes are due out this morning see the preview from our econ group below
UK BoE minutes (6-7 Jul meeting) – 09:30 BST / 04:30 EST
The minutes of June’s MPC meeting showed a division of opinion emerging within the ‘no-change’ group, with some policymakers apparently leaning towards a further round of quantitative easing, should growth continue to disappoint. The prospect that one of these members may have joined archdove Adam Posen in voting for further stimulus in July appears unlikely, however, given the still uncomfortably high level of inflation. As recent communications from Martin Weale and Spencer Dale suggest that they continue to believe the bank rate should be gradually increased, the overall voting pattern for July should be unchanged from the 1-6-2 split in June.
HSBC Global Research