BoE’s Weale warns of burgeoning inflation risk due to weak pound

martin-weale

Martin Weale, a member of the Bank of England's Monetary Policy Committee, warned in a speech on February 16 that further depreciation of the pound would have an "unwelcome" effect on inflation that the central bank might not be able to respond to.

Speaking at an economics summit at the University of Warwick, Weale identified "what is probably, at present, a substantial external imbalance" in the UK, as the government may begin struggling to finance its external debt through capital gains

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