Comments from Weale in the FT
"The Bank of England should be ready to raise borrowing costs as early as August" - Financial Times, citing Weale interview.
Weale is a BOE hawk:
Says he was one of two MPC members on the brink of voting for June hike
"If you'd asked me last autumn how rapidly I thought wages might pick up, looking at the most recent numbers, the movement seems to have been a bit faster than that," he said.
Voting for July 8 hike would be too early
It's "a bit of a pity" people now see small rises as important
"I met businessmen who say they would find life impossible if the interest rate went up and I have said things like, 'if your business is successful at half a point [interest rates] it is a bit difficult to see it would be ruined at three-quarters of a point," he added.
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