Despite the Bank sounding more optimistic in its forecasts, experts remain divided on the timing of the rate cut, with some expecting it next month and others in August.
Experts are hopeful that the Bank of England may pre-empt the US Federal Reserve in cutting rates, with signals pointing towards a possible reduction in the coming months.
The reference to a divergence in monetary policy between the US and other economies in the Bank's minutes indicates a potential early move by the BoE to cut rates.
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