BoE Minutes: Increased uncertainty surrounding the referendum – Deutsche Bank

Research Team at Deutsche Bank, suggests that as expected we saw no change in BoE policy after a unanimous confirmation vote of 9-0.

Key Quotes

“The bulk of the minutes showed little in the way of new information with domestic consumption reported as being robust and that the near term outlook for inflation was little changed since the inflation report last month. More interesting were the comments around the upcoming June Brexit referendum.

The minutes made mention to there appearing to be ‘increased uncertainty surrounding the forthcoming referendum’ and that ‘uncertainty is likely to have been a significant driver of the decline in sterling’. The minutes also noted that ‘it may also delay some spending decisions and depress growth of aggregate demand in the near term’.”