BoE’s Weale sees demand weakening more than supply
Martin Weale will also weigh impact of exchange rate movements and earnings developments in August meeting
In the short term, demand will likely weaken more than supply in the UK, but the Bank of England will not necessarily cut rates in August, one policy-maker said today (July 18).
Martin Weale discussed the policy implications from the UK's vote to leave the European Union in his last speech before leaving the monetary policy committee (MPC) next month. If demand drops more than supply, this would reduce inflationary pressures, he noted.
However, when deciding whether to cut interest rates at his
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