BOE MPC Minutes: Most MPC see merit in waiting for firmer evidence that wage growth will come before raising rates via ForexLive

• Weale and McCafferty say its desirable to raise rates before wage pressures show due to monetary policy lags
• say early rate rise would faciliate aim to ensure future rate rises are gradual
• unclear risk of adverse market reaction would be lessened by delaying rate rise
• most MPC members see insufficient inflation pressures to justify rate rise

Link to full Minutes here

As per my preview I think 7-2 was to be expected and therefore see this knee-jerk higher as another sell GBP opportunity but may have to be patient

GBPUSD currently 1.6663 from 1.6680 highs EURGBP 0.7977 having triggered stops below 0.7980 to post 0.7970

posted via ForexLive