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BoE stands firm with little sign of reduced inflation concerns

• BoE leaves policy rate on hold for 3rd consecutive meeting at 5.25%.
• The statement indicated the maintenance of the key guidance from November that rates will be higher for longer and that the inflation risk-bias remains to the upside.
• Three MPC members continued to vote for a 25bps hike.
• Relative to the Fed yesterday and the ECB today, albeit less so, the BoE has opened up a gap by remaining much more hawkish – this can benefit GBP for now