• Latest BOE decision reflects belief that inflation risks are still persistent
• There may be more work to do to bring inflation down
• But we are seeing evidence that we are moving in a more favourable direction on the outlook for inflation

He doesn’t really want to give much away but as things stand, markets are voting that they can afford one more rate hike in June to come. After that, it will be quite dependent on the upcoming economic data from the UK in the weeks ahead.

This article was written by Justin Low at www.forexlive.com.