All MPC members judge that policy could need to be tightened faster than market expects if economy grows as forecast

  • BoE expects gdp growth of +0.3 pct qq in q3 2017, unchanged from aug forecast, stronger consumption possible

  • Says considerable risks remain, including response of households, businesses and markets to brexit process

  • Policymakers Ian Mccafferty and Michael Saunders voted to raise rates to 0.50 pct

  • Most of MPC judge some withdrawal of stimulus likely “over the coming months” if growth continues and underlying price pressures rise

  • All MPC members agree any bank rate increases would be at a gradual pace and to a limited extent