The Bank of England Monetary Policy Committee keeps notes from its rate decision meetings. The detailed minutes from these meetings give an insight into the process of monetary policy decision making and the opinion of the Bank of England on economic developments inside and outside the country.
The markets tend to focus most of their attention on the key points discussed that can affect future interest rate changes.
Because minutes come out two weeks after the Bank of England meets, the market does not take into account some information from the report. Market participants tend to track the overall mood of the Bank of England during the meeting. If the Bank is cautious about the inflationary outlook (the mood is called "Hawkish"), then the market expects future rate increases. If the Bank is optimistic ("Dovish") it suggests to markets that inflation is in check and that future rate increases are less likely.