Market participants look ahead to the release of a duo of economic reports on Thursday, which may offer further guidance on the strength of US economy.
Kristin Forbes, one of the MPC (Monetary Policy Committee) members to back a rate rise in June, departed the group and was replaced by Silvia Tenreyro, an academic at the London School of Economics.
In its closely watched trio of releases - its rate decision, monetary policy statement and quarterly inflation report - the United Kingdom central bank said economic growth and wages remain sluggish in the near term because of uncertainty over the U.K.'s exit from the European Union.
However, in the minutes on the policy meeting the Bank said some monetary tightening may be needed in the next three years if the economy improved as expected.
But the push for an interest rate rise was dealt a setback with last month's news of a surprise fall in inflation, to 2.6% in June, down from 2.9% in May.
"The door is still open to a hike, but it doesn't look imminent", Alan Clarke, a rate strategist with Scotiabank said, as quoted by Reuters.
The Bank also kept its asset purchase programmes unchanged and said a bank lending scheme would end as previously scheduled in February 2018.
However, the central bank also sought to send a hawkish message that a rate rise could still be coming sooner than markets now expect.
The bank said that its projections are conditioned on the average of a range of possible outcomes for the UK's eventual trading relationship with the European Union, with the pound falling one cent against the dollar after today's forecast.
Given weak productivity, the BOE still sees economic growth being enough to generate domestic inflation pressure and close the UK's output gap within three years.
Bank governor Mark Carney said the United Kingdom is "in the teeth of it right now", but added that the Bank expected growth to accelerate if a "smooth" Brexit transition is achieved. Business investment has also been suppressed by uncertainty over the post-Brexit trade arrangements for United Kingdom firms.
When the bank in previous years did pull the trigger, quarterly economic growth was 0.8 percent on average, and was never below 0.5 percent, according to Bloomberg Intelligence economists Dan Hanson and Jamie Murray.
The correlation between the FTSE 100 and the pound has returned to negative today, with the FTSE 100 up 1.3% so far and GBP/USD down 1.15%.
The Bank also confirmed it will withdraw the Term Funding Scheme (TFS), part of the monetary policy stimulus introduced a year ago in the aftermath of the Brexit vote to boost bank lending.
It blamed the downgrade on Britain's stubbornly weak productivity and in part on the Brexit uncertainty.
The MPC reconfirmed inflation hit 2.6% in June, up from 2.3% in March, and said it expected it to hit 3% by October this year. Conditional on the current market yield curve, inflation is projected to remain above the MPC's target throughout the forecast period.
The VW subsidiary Friday launched a recall of almost 1 million diesel vehicles to update the software that controls emissions . And on Friday, Audi said it would retrofit 850,000 diesel cars to improve their emissions in " real driving conditions ".
What does that hint at? The Galaxy Note 8 will be unveiled next month, a Samsung spokesman confirmed to CNNMoney on Tuesday. Samsung has been less successful than AAPL when it comes to keeping a lid on the details of its new flagship smartphone .
Credit Suisse is advising McCormick on the deal, while Cleary Gottlieb Steen & Hamilton LLP is the legal counsel. The sale, announced late on Tuesday, will reduce Reckitt's net debt to EBITDA ratio to 3.3 times from 4.1 times.
The first teaser of the film was about how a Muslim teenager from a conservative family harbours ambitions of becoming a rockstar. How the girl achieves stardom without openly defying her father forms the crux of the story.
When sanctions were first imposed in 2014 under the Obama administration, it was done in close coordination with the EU. And also for worldwide law, and global trade relations - according to what information we have on this bill.
He told the Italian media: 'I'm proud to wear this shirt, I've bought into an important project here and I'm happy to be here. Click on this link if you want to find out more about how to win the trip of a lifetime or train with Chelsea's stars .
Tannehill and the Dolphins were awaiting the results of an MRI on his left knee after he limped off the field. Last season, Tannehill was 8-5 as a starter with a 93.5 passer rating, a career high in that category.
Home-crowd favourite Katinka Hosszu can win her second individual medley title of these championships in the women's 400m final. Schooling had admitted after the race that Reese had warned him that this would happen if he took time off from the pool.
Teigen shuts down Trump on Twitter regularly, but what she says finally prompted a reaction from him wasn't even her sickest burn. Donald Trump , the President of the United States, literally blocked Chrissy Teigen because she said, "No one likes you".
The two countries thrashed out a ceasefire in the south of the war-torn nation despite being on opposing sides of the conflict. Moscow has already responded, ordering a reduction in the number of U.S. diplomats in Russian Federation and closing the U.S.
It will go on sale in Mexico, Brazil, Europe, Middle East and Africa from later this summer, the company said. With a lot of high-end specifications, the 2nd-gen Moto Z phone will be the flag-bearer for Moto this year.
Central Oklahoma quake leaves hundreds in the dark
The commission also said that no disposal wells are in the area but a known fault is in the vicinity. Oklahoma seismicity peaked in 2015, with more than 900 tremors of greater than magnitude-3 recorded.
GTA gang members opened fire in Moscow court
After the shootout, everyone was evacuated from the court and all hearings were postponed, the lawyer said. A lawyer told the Russian news agency a woman bailiff and an armed guard were injured during the attack.
Sensex, Nifty close at an all-time high
Shares of Larsen and Toubro moved up 2.85% after the company posted a 46% jump in consolidated net profit for the June quarter. The gauge had risen 205.06 points in the previous session to close at an all-time high of 32,514.94.
Trump says John Kelly to be new WH chief of staff
This White House will remain stuck in neutral unless Kelly can convince Trump to settle down and let him navigate a steadier ship. He was confirmed as Secretary of Homeland Security by the Senate by a vote of 88 to 11 on Trump's first day in office.
Terminally ill baby Charlie Gard to spend final days in hospice
However, the hospital recently agreed to consider new evidence involving Charlie's condition before taking him off the ventilator. The staff at Great Ormond Street Hospital stepped forward as their bosses said the baby must be sent to a hospice by tomorrow.
Dark Web marketplaces worth billions crushed in secret takeover
On July 5, Alexandre Cazes , a Canadian citizen living in Thailand was arrested for creating and running the AlphaBay marketplace. Schwartz ( euroinfosec ) • July 20, 2017 Takedown notices displayed on the Hansa and AlphaBay darknet marketplace homepages.
Derrick Rose in 'serious talks' to sign with Cavaliers
However, there is apparently one former MVP that could do just that, and - the Cavs hope - salvage their offseason. Neither of which would move the dial much, especially not against competition like the Golden State Warriors.