The BoE’s MPC Minutes are out on Wednesday. This is the only time we will hear from the MPC during the election campaign. GBP had come off its peak by the time of the April meeting but that will have offered little comfort to the Committee as they mull over the extent to which the medium-term inflation forecast could be threatened by FX appreciation and expectations being influenced by current low inflation prints. “We look for the vote to be 9-0 with only Haldane a potential dovish dissenter in the near-term”, says RBC Capital Markets.
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