The pound declined from a two-week high against the euro as Bank of England policy maker Spencer Dale said it would take a long time until the U.K. economy was strong enough to justify higher interest rates.
Bank of England Deputy Governor Charles Bean said consumers’ and businesses’ concerns about the outlook may undermine the impact of quantitative easing, in remarks one week before officials’ next decision on stimulus.
Bank of England Deputy Governor Charles Bean said the strength of inflation has increased the risk to price expectations and there may also be less spare capacity in the economy than previously assumed.
Bank of England Deputy Governor Charles Bean cautioned against over-optimism following third- quarter gross-domestic-product data and said U.K. growth may be weak in the final three months of the year.
Bank of England Deputy Governor Charles Bean said policy makers will “take stock” of their current round of stimulus when it ends in February and are ready to increase their bond-purchase target if necessary.