Britain’s recovery ‘disappointing’

BRITAIN’S recovery in the first quarter has been disappointing, Bank of England policymaker, Martin Weale, said yesterday, adding that the BoE’s forecasts in May could be crucial to his next vote on interest rates.

Mr Weale has voted for higher rates since January, and has been in a minority of three on the nine-member Monetary Policy Committee.

His comments add to signs that the momentum for tightening interest rates at the bank has stalled after a very dovish set of minutes from April’s policy meeting on Wednesday.