Businesses hear Bank of England VIP

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Doncaster business leaders will be hearing the views of one of the country’s top economists later this week.

Martin Weale, one of the nine members of the Bank of England’s monetary policy committee who decide interest rates, will be visiting several businesses in the Yorkshire and Humber region during a two day tour and will be giving a speech to the Doncaster Chamber of Commerce on Thursday.

Committee members each make several visits to the countries and regions of the United Kingdom during the year to get a first hand impression of the local economy.

These visits complement the monthly reports provided to the MPC by the Bank’s 12 regional agents.

On his Yorkshire visit Mr Weale will be talking to a range of bank contacts and others in business and industry, both individually and through meeting business groups.

Throughout his visit he will be accompanied by Paul Fullerton, the Bank’s agent for the Yorkshire and Humber region. At its last meeting the MPC voted to maintain the official Bank Rate paid on commercial bank reserves at 0.5 per cent.