Martin Weale, was welcomed in the Bank of England nine-member Monetary Policy Committee for setting interest rates. Weale currently works as a director of the National Institute for Economic and Social Research in London, Kate Barker was replaced as a result of her term ending on the 31st of May.

Today the central bank is to announce interest rates in which expectations will leave them steady at 0.50% while continuing to pause the APF program in worries it might trigger inflation in the long run.