-Comments From Interview With South Wales Argus

LONDON (MNI) – Bank of England Monetary Policy Committee member Ian
McCafferty has characterised the current business mood as “cautious” and
“brow beaten”.

In comments carried recently in the South Wales Argus, McCafferty
also said that he could detect and underlying resilience in the business

“I think the mood is cautious and that business is feeling a bit
brow beaten but I detect a resilience out there,” McCafferty is quoted
as having said.

The newest member of the MPC is also reported as saying that the
economy remained sluggish and that activity would remain slow for some
time to come.

There has been some speculation as to how dovish or hawkish
McCafferty – a former chief economic adviser to the Confederation
of British Industry – might prove to be in policy terms.

The comments, made by McCafferty, ahead of the BOE MPC’s November
policy decision, shed little light on his likely voting tendency.

-London newsroom: 4420 7 862 7492; email: wwilkes@marketnews.com

[TOPICS: M$B$$$,M$$BE$]