Bank of England’s MPC minutes on Wednesday

Minutes to the July 9th meeting of the Bank of England's Monetary Policy Committee will arrive on Wednesday and will be useful to further showcase the range of views on timing rate hikes. Governor Carney recently noted that over the next three years, he thinks the BoE's policy rate will rise to half the historic average. Carney also noted recently that "....households should begin to manage their finances with the assumption that there should be an upward adjustment in interest rates." 

MPC member David Miles recently commented that "The time to start normalization is soon; that is not something to shrink from." By contrast, BoE Chief Economist Andy Haldane thinks policy rates are appropriate, and "I have no bias on either the size or direction of future interest rate moves." The UK also releases retail sales for June; they have been climbing for the past two months.