BOE Weale: Double-Dip Risk Slightly Higher, But Still Unlikely

LONDON (MNI) – The risk of a double-dip recession in the UK is now
slightly greater than it was, but is still very unlikely, Bank of
England Monetary Policy Committee Member Martin Weale has said.

“The risk is perhaps slightly greater than it was, but I don’t
expect we will get a double dip,” Weale was reported as saying by the
Press and Journal newspaper today.

Weale reiterated that it was very unlikely the BOE would cut rates
any further from the current 0.5% level of Bank Rate.

“It’s very unlikely,” he said.

The MPC member said that, if more stimulation to the UK economy
were to be required, it was more likely to be come via quantitative
easing.

Weale made the comments while on a regional visit to Dundee.

–London bureau: +4420 7862 7491; email: drobinson@marketnews.com

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