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WorldPosted at: Jul 18 2016 1:56PM


Bank of England's Weale sees little urgency to cut interest rates

London, Jul 18 (Reuters) Bank of England policymaker Martin Weale said on Monday he was unsure if he would back an interest rate cut at next month's BoE meeting, in contrast to most of his colleagues who think a cut is likely.
Weale - who will step down after next month's meeting - said he did not see any sense of panic among consumers or businesses after Britain's vote to leave the European Union last month, and that the central bank should not be afraid of disappointing markets.
The BoE held interest rates at 0.5 percent on Thursday, contrary to widespread expectations of a first cut in more than seven years. Governor Mark Carney said two weeks ago that he expected the BoE to give the economy more help over the summer.
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