@bucksworks, thanks. I have a BMM campaign separate to the exact match, although it doesn't seem to get many impressions. I think this is largely because I have the exact match covered quite well and I have negative KW's setup containing the exact matches.
Yes, they would compete with each other but in this context I wouldn't see that as anything to worry about. Unless you'd have a reason to serve significantly different ads to phrase vs exact match searches, just leave them both in the same ad group and don't worry about trying to block one or the other.
That's useful to know, thanks. I thought if they competed with one another, it would cause the CPC to rise, but then that did feel a little illogical.
@tommytx, none of the impressions are yet in the thousands, which means I'm only being shown QS for the keywords on the network as a whole, rather than how they perform in my account.
The keywords are all relevant to the campaigns in question and the ads and landing pages are also well matched.