August BoE Cut Highly Likely After ‘Finely Balanced’ Hold

There were "a range of views" among the seven Bank of England officials who voted to keep Bank Rate unchanged on Thursday. Officials' opinions varied regarding how much more evidence they need to support a rate cut, and also "the degree to which incremental information was leading them to update materially their assessment of inflation persistence." In other words: BoE voters aren't collectively sure how much additional inflation moderation they need to see, nor is there any real consensus aro