BoE May MPC meeting unlikely to spring any surprises

The minutes of May's MPC meeting (09.30 BST) seem unlikely to spring any surprises, given that the Inflation Report was published only last week and suggested that financial markets have it broadly right in expecting interest rates to stay on hold until the middle of next year. 

Admittedly, we wouldn't be surprised if there was a range of views on whether productivity growth will be as weak as the Committee now suggests. Nonetheless, the main message from the minutes should be clear - that while interest rates are more likely to go up than down, the tightening cycle is likely to be very gradual by past standards. said Capital Economics