- two members saw decision as "finely balanced"
- one member saw next move roughly as likely to be loosening as tightening
- rate cuts,QE possible if downside risks realised
- all members viewed it more likely that rates will rise over next 3 years
- likely that rate increases will be more gradual and limited than previously
- see wage growth faster than expected but risk that low inflation could limit fututure pay growth
- see wage growth picking up to 4% over next 2 years but risks on both sides
- CPI more likely than to fall below 0.0%
- political uncertainty ahead of May 7 election could delay investment. No sign of this yet
Full Minutes here
Not a lot that we didn't already know but the bulls will be happy enough
GBP higher mainly on the jobs and wage data