NIESR’s Weale To Replace Barker On MPC At August Meeting

LONDON (MNI) – Martin Weale, director at the National Institute of
Economic and Social Research, is to replace Kate Barker on the Monetary
Policy Committee of the Bank of England, and will start at the August
meeting, the Treasury announced Monday

Barker left at the end of May which means the MPC will still have
only eight members at the July meeting.

The NIESR has been more downbeat over UK growth prospects than the
Bank of England or the Office for Budget Responsibility.

Weale expressed skepticism last week about the view of his soon to
be colleague Adam Posen that a rise in inflation expectations was a
key factor in higher UK inflation outturns.

He told Market News the decline in sterling was, instead, a more
likely suspect.

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

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