Is Sterling Ready for a BOE Rate Cut?
Bank of England policy maker Martin Weale said he needs to see firmer evidence of the impact of the U.K.’s vote to leave the European Union before supporting additional stimulus at the central bank’s August meeting. BOE officials surprised markets and a majority of economists last week when they kept their key interest rate unchanged, and suggested they might act at their Aug. 4 decision instead. Weale said in a speech in London on Monday that the bank is “not a nurse to markets.” J.P. Morgan Global market strategist Michael Bell discusses with Bloomberg's Manus Cranny on "The Pulse."
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