That's kinda like saying that it's only an option, not the base case. Sounds dovish but cable is, instead, taking it as reminder that a rate hike is on the table and it's up a handful of pips. I think that reaction is the wrong one.
Other headlines:
Markets had previously misread BOE as having its hands tied until Britain left the EU Monetary policy can do little to offset likely weaker real income growth No need to consider starting to reverse QE until after "several" rate hikes Economic slack likely to disappear quiet quickly Some signs that global economy is beginning to normalize
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