BoE’s Weale calls for early rate hike


Martin Weale, an external member of the Bank of England's Monetary Policy Committee (MPC), on Monday said there was good reason to raise interest rates from its current low level.

At the Finance Directors' Strategy Meeting in London, Weale said an early increase in the bank rate would make it more likely that the Bank meets its inflation target in two to three years' time but also allow for "greater subsequent flexibility".

"If inflationary pressures subsequently prove more severe than the

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