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STERLING: GBP remains buoyant post-BoE, with GBP/USD briefly topping $1.40. MNI
Markets team highlight that one of the most striking things in the minutes was
that while all nine members of the MPC voted for unchanged policy, none of them
dissented from the line that policy would need to be tightened by earlier and
more than expected if the economy evolved as forecast. Any dovish dissents at
future meetings will be based on the view that the economy is evolving out of
synch with the projections rather than disputing whether more rapid tightening
is required if things unfold as expected (see '5 Things we Learned...' on
MainWire at 1209GMT).