BoE policy minutes in focus
Market attention is now focused on the June BoE meeting minutes release at 8:30 GMT. According to currency analysts at RBS, The British currency may lose some ground on the release.
Economists are convinced that the UK regulator unanimously voted in favor of unchanged monetary policy. Note that high UK inflation was released a few weeks after the June meeting, so the Bank hadn’t had enough ground to turn hawkish yet.
They see the August meeting as a more likely time to see divergence of views in the MPC. By the way, August meeting will coincide with inflation forecasts and a fresh Quarterly Inflation Report.