The Bank of England meets the same day as Norges Bank. While a Norwegian rate hike is as done of a deal as these things get, the Bank of England call is more complicated. First, several BOE officials, including the leadership, have been particularly hawkish in their rhetoric, but at the same time, still seem to believe that the price pressures are mostly related to the re-opening and supply-side disruptions. Second, the BOE is still engaged in QE, and although Governor Bailey has said that the MPC is prepared to raise rates before QE is finished, the contradictory impulses are greeted with a degree of skepticism. Third, if the BOE moves, the magnitude of the move is also debated. The last cut delivered in March 2020 was 15 bp, even though the traditional quantum of the 25 bp and multiples thereof.