Slow pay growth, oil slump make rate hike less urgent – BoE’s Weale
Reuters – 1 hour 29 minutes ago
00.01 21st Dec 2015
LONDON (Reuters) –
Bank of England policymaker Martin Weale said a slowdown in a recovery in pay and a further fall in oil prices meant that the need for an increase in interest rates is “slightly less immediate,” the Daily Telegraph newspaper reported on Sunday.
But Weale, who was one of two BoE rate-setters who pushed unsuccessfully in late 2014 for higher borrowing costs, also said rates would probably have to rise sooner than financial markets currently imply, the newspaper quoted him as saying.
(Writing by William Schomberg; Editing by Dominic Evans)
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