BoE meeting a non-event with policy leaving unchanged

The BoE meeting was a non-event with the MPC leaving policy unchanged, as universally expected. More interesting for markets will be UK industrial production and construction output for February, out this afternoon. 

Recall IP and construction contracted in January which made for a disappointing Index of Services outcome. That makes the February print somewhat more important, as they are the last inputs into the Q1 GDP available before the initial estimates later this month.

"For the manufacturing sector, the PMI survey suggests there should be a modest rebound, and we forecast 0.2% m/m growth for both IP and manufacturing output-slightly below consensus (IP: 0.3%m/m, manuf: 0.4%)", said RBC Capital Markets in a report on friday.