BOE MPC voted 9-0 to keep rates unchanged

Bank of England (BOE) Monetary Policy Committee (MPC) voted 9-0 to keep interest rate unchanged at 0.50%.

The Committee also voted unanimously to maintain the stock of purchased assets financed by the issuance of central bank reserves at GBP 375 billion.

Key points

CPI will likely fall in April as Easter air fare effect unwinds

Unit wage costs growth below levels consistent with meeting CPI target

Domestically, growth has been steady, and the MPC continues to expect CPI inflation to rise over the next year

The pickup in the price of oil and sterling's recent depreciation will support that rise

On Brexit

Link between Sterling weakness and EU referendum raises questions about if it will persist

Referendum uncertainty may have more pronounced effect on household sentiment as vote nears

Brexit would result in extended period of uncertainty that would likely push down on demand in short run