BOE's Weale: Policy action in August unlikely to boost economy before next year

Reuters now publishing BOE MPC member Martin Weale’s interview with FT conducted earlier on the day.

Key Headlines:

Mon pol would not boost economy straight away so any action would not save UK from recession if growth is beginning to shrink

Weaker PMI detail will be very material for next week's rate decision. Was a lot worse than expected

Sees things rather differently than if he had not seen PMI data