Bank’s Weale explains thinking behind vote for hike

martin-weale

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

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