The minutes of the meeting (released on 22 April), will likely show that policy makers have different views on the near-term outlook for monetary policy. Headline inflation remained flat at 0.0% y/y for the second month in March, while core inflation eased to 1.0% y/y. Despite this, most policy makers have reiterated that the bank’s next move will be a hike. Some MPC members are likely to have adopted a hawkish stance, noting the transitory nature of several factors keeping inflation low at present, e.g., the drop in the oil price and the strength of the pound versus the euro. Andrew Haldane, the BoE’s chief economist, might have made some dovish comments.“We expect members of the Bank of England (BoE) monetary policy committee (MPC) to have voted unanimously to keep the bank rate unchanged at their April meeting”,said Standard Chartered in a report on Tuesday.
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