Bank’s Weale explains thinking behind vote for hike


Martin Weale, an external member of the Bank of England's Monetary Policy Committee (MPC) who in December became the newest dissenter among the rate-setters, on Monday said it was difficult to tell whether the factors driving inflation were truly temporary.

In a column for the Guardian, a UK newspaper, Weale said: "My concern is that, if businesses and pay-bargainers come to regard an inflation rate of 3% to 4% as normal, it will become most costly for the MPC to keep inflation close to the gove

To continue reading...