• At its latest policy meeting the Bank held its stimulus program unchanged as was widely expected, via a unanimous 9-0 vote.
• In its quarterly Inflation Report, the BoE raised its near-term GDP and CPI forecasts, acknowledging both the economy’s better-than-expected performance, as well as the possibility of a rapidly rising inflation rate.
• Since that meeting, economic data have continued to suggest that the UK economy performed better than many expected following the referendum vote.
• We expect British policymakers to keep policy unchanged again via a unanimous vote.
• Following recent “soft Brexit” comments, we will look through the minutes to see whether and how the officials assess the effects of the ongoing “Brexit” developments and what their expectations for the economy are.
• Relatively upbeat commentary could provide a fresh reason for GBP-bulls to add to their positions.

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