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Weale doubts Carney's policy

Bank of England Monetary Policy Committee member Martin Weale has broken ranks with governor Mark Carney by expressing doubts about the effectiveness of the forward guidance policy.

He said the stimulus provided was "almost certainly very small".

Mr Weale was the only one of the nine-member MPC to vote against the policy announced in August.

Minutes of the meeting revealing that, while he backed the idea, he wanted to see a tighter safeguard against inflation built into it.

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