BOE’s Weale: Naive to say there is no risk of UK falling back into recession

• Sees no danger of british public debt situation worsening
• BOE forecasts show risk of a double dip recession in the UK, perhaps in the winter
• Urges rate rise off 0.25% to tackle inflation concern, would have only limited impact on demand

Cable remaining subdued on the comment with EUR/GBP holding firm around the 0.8870 level