Martin Weale speaking in Nottingham

  • Next rate move likely to be up
  • Unit wages costs could be stronger than the data suggests
  • Zero inflation hasn't seemed to have damped wage growth
  • BOE could expand asset purchases and cut rates if needed
  • Sees scope for the BOE to buy private sector assets if needed

One of the big hawks offers a couple of dovish remarks that are ignored by the pound in favour of the hawkish ones.