Analysts at ANZ explained that the BoE made it reasonably clear that it could be joining the Fed and BoC in withdrawing policy stimulus shortly as inflation starts to supplant Brexit on its list of worries.
"The minutes noted that “some withdrawal of monetary stimulus was likely to be appropriate over the coming months in order to return inflation sustainably to target”. Importantly, Carney stated that he was one of the ones on the MPC that had changed views. There are likely to be a few hurdles to meet first regarding wages and domestic demand, so some caution is necessary. But even so, the turn in the global liquidity cycle (which asset markets should be focused on closely) does look to be approaching."
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