"Foolish" to rule out double-dip, says new MPC member

The economist also fears the Bank of England's growth forecasts of 2.8% in 2011 and 3.2% in 2012 are optimistic. He said a renewed surge in unemployment, further declines in house prices and further problems for the banks are all risks on the horizon. However, Weale, who sat in his first MPC meeting this month, said he was unlikely to vote for a rate rise any time soon and he was comfortable with the current low interest rate policy. The central view of the MPC is the economy will continue to recover, but Weale said a real danger is the chance of another crisis in the financial sec...