UK Monetary Policy Committee member Martin Weale last night declared "there is appreciably more room for further monetary stimulus", citing an easing of inflationary pressures.
UK Monetary Policy Committee member Martin Weale last night declared \"there is appreciably more room for further monetary stimulus\", citing an easing of inflationary pressures.
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His comments will fuel economists' belief that the Bank of England committee will likely hike its monetary stimulus at the end of its next meeting on July 5.
Mr Weale was one of five MPC members who voted to hold the committee's quantitative easing programme at £325 billion two weeks ago, rather than raise it. The other four members voted unsuccessfully for a rise in QE, which is aimed at stimulating activity by boosting money supply through the purchase of Government and corporate bonds using central bank reserves.
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