Martin Weale voiced fears over "persistent" inflation yesterday in a hawkish speech underlining the growing splits at the Bank of England over the path of monetary policy.
Weale, a member of the monetary policy committee, voted for interest rate hikes at the Bank's meeting last year before Europe's debt crisis exploded last summer. MORE... HSBC Holdings is nearing a deal to sell its general insurance business for about $1bn (£627m), sources familiar with the matter told Reuters, with French insurer AXA SA and Australia's QBE Insurance Group expected to split the business. MORE...
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