The Bank of England (BoE) Minutes may prop up the British Pound as the central bank appears to be slowly moving away from its easing cycle, and the fresh batch of central bank rhetoric may instill a bullish outlook for the sterling should the Monetary Policy Committee talk down bets for more quantitative easing. Although we anticipate to see another 6-3 split within the committee, the BoE may keep the Asset Purchase Facility capped at GBP 375B as it extends the Funding for Lending Scheme by another 12-months, and the policy statement may sound more hawkish this time around as the central bank sees a ‘modest’ recovery ... (full story)