Will the BoE minutes undermine or support sterling?

Sterling had a quiet day yesterday, with investors nervous ahead of today’s influential releases. With no UK economic data of note released yesterday, investors chose to focus on the minutes from the latest Bank of England meeting which are due this morning. The minutes will reveal how the nine Monetary Policy Committee members voted with respect to the current base interest rate and level of quantitative easing. The general consensus is that all nine members will have voted for no change on both fronts, any variation from this and we could see significant volatility in the market. Beyond the votes, investors will look for other clues as to when monetary policy will change. Call your trader now for the latest on sterling.