Bank of England (BOE) Chief Economist Huw Pill said in his scheduled appearance on Friday, "it is up to markets to decide if we are considering a 50 bps rate hike."
Additional comments
"The word "forcefully" was put in the context of "if necessary".
"Statement had a level of flexibility to encompass different views."
"We are trying to signal that we may need to act further."
"Our previous communication had become stale, implied BOE was moving in a quasi-automatic way."
Market reaction
GBP/USD was flirting with 1.2300 on these above comments, having faced rejection just below 1.2350.
