BoE's Weale explains rate-raise vote change


Martin Weale, an external member of the Monetary Policy Committee (MPC) at the Bank of England, on Thursday explained why he dropped his long-term campaign to raise rates in the latest MPC vote.

The MPC's August Inflation Report showed that if interest rates were to follow the market profile, the committee expected inflation to be marginally below target in the medium term. "That suggested there was no need either to tighten or to loosen monetary policy," said Weale at the Doncaster Chamber of

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