Not yet possible to determine timing of next move in rates
May meeting would be opportune time to reconsider, decision was not predetermined
Global risks to growth had increased, were tilted to the downside
Important to safeguard progress on inflation and not ease policy "prematurely"
Possibility labour market not as tight as thought, wage growth could continue to slow
Data pointed to genuine improvement in consumer demand, beyond just sales events
Governance board to consider risks in scale and maturity of bond holdings
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