Bank of England MPC Minutes now released 14 July 2016
- see economy weakening in near term
- MPC member Vlieghe voted to cut rates
- had initial exchange on various possible measures
- extent of added stimulus depends on Aug forecasts
- pound's sharp fall puts upward pressure on inflation
- fall in GBP will provide some support for exports but drag on household real income growth
As per my preview. Postponed til August as per Carney's recent rhetoric about using this meeting to assess the situation.
Full Minutes here
GBPUSD back to 1.3320 from 1.3479. Keep selling those rallies! I'm doing the wrap now. Play nicely out there
