BoE leaves rates unchanged at 0.25%, confirming the stimulus package currently in place. The internal vote within the MPC came out as expected 7-2.

The British Pound went higher on the back of a more hawkish tone in the minutes. Officials confirmed that, under the right circumstances, it might be needed a reduction of the expansionary measures. Inflation is growing and now there is a risk of overshooting that BoE wants to avoid.