Bank of England MPC meeting Minutes now poublished 16 June 2016

  • fall perhaps sharply after a vote to Leave due to worsening terms of trade, lower productivity, higher risk

BOE now finally getting the picture that all is not well regardless of Brexit

  • outcome of EU referendum biggest immediate risk for UK fin markets
  • a vote to Leave would pose risks to global economy
  • MPC was briefed on BOE's contingency plans for referendum

Oooh, can we all have a look ?

  • MPC discussed fin stability measures available to FPC
  • issues discussed include more intensive supervision from PRA to make sure banks have sufficient liquidity inc foreign currencies
  • core inflation remains subdued, expected to increase much more gradually over course of year than CPI

Full Minutes here

GBPUSD falling to 1.4115 on the less than optimistic tones. Next layer of bids at 1.4100.