Firstly because consumer prices slipped from 2.9% to 2.6% in June, suggesting that the central bank may need to assess whether prices will ease further, after topping out in May.
USA labor market data showed the number of Americans filing for unemployment benefits fell last week, a positive factor that may keep the Federal Reserve on course to announce plans next month to start reducing its massive bond portfolio. Perhaps some had seen the BOE raising rates.
Ian McCafferty and Michael Saunders were the two MPC members that dissented in favor of a 25 basis points rate hike, expressing concerns over rising inflation.
Aberdeen Asset Management chief economist Lucy O'Carroll says Brexit is at the core of every aspect in the Bank of England's inflation report.
That sent the pound 0.8% lower against the dollar at $1.312.
Average wage growth has been weak since May, falling below the rate of inflation, and the Bank has now downgraded its nominal wage growth forecast for 2018 to 3 per cent, down from 3.5 per cent previously.
Although these officials requested anonymity after Prime Minister Narendra Modi ordered them not to challenge the RBI in public, their comments recall the divergence in views that preceded the abrupt departure past year of Governor Raghuram Rajan. 'Perhaps the most interesting part of today's statement is the fact that the Bank still thinks investors are too cautious on the outlook for interest rates, ' he said.
The vote regarding the stock of the Asset Purchase Facility programme was unanimous at 8-0 for the status quo and accordingly it was left unchanged at £435bn for United Kingdom gilts and £10bn for non-financial GBP investment-grade corporate bonds.
"Firms are clearly in an exporting sweet spot, able to exploit the competitiveness gains from a low exchange rate and a firm global backdrop", said CBI economist Alpesh Paleja.
Although the markets have brought forward their expectations for a rate hike, this is not the big story from today's Inflation Report. £78 billion has already been lent to banks through the scheme.
However the closely watched Markit/CIPS services purchasing managers' index (PMI) rose to 53.8 in July, up from a four-month low of 53.4 in June.
But a raft of weaker data - as well as deep uncertainty about the impact of Brexit - called that view into question.
Next PLC NXT, +8.85% still occupied the top spot as the session's best performer. the clothing and home furnishings retailer's shares surged 8.8% after it raised the lower end of its full-year sales guidance after a rise in the second quarter.
United Kingdom inflation is forecast to rise further in the coming months, peaking around 3% in October before gradually dropping to 2.2% over the three-year forecast.