BoE's Bailey (Q&A) says the biggest influence on the Gilt market recently has been the Middle East and energy fluctuations (when asked about the risk of not giving explicit forward guidance)

Lombardelli emphasises the uncertainty around the projections and recent signs that economic activity is "a bit more resilient than expected", but that the "underlying trend is one of weakness". Bailey adds that all members, including the dissenters, believe the uncertainty around the projections occurring is greater than it typically would be, given the macro environment. Ramsden underscores that the presser is about the decision taken, not so much the views of the dissenters, which are available in the statement paragraphs.