BOE MPC Can Do Nowt But Wait-Currency Strategist

If it wasn't for inflation being on an upward trajectory, the weakness in UK economic data would warrant a cut from the Bank of England's MPC when it announces it's July interest rate decision at 1100 GMT, says Bank of Scotland currency strategist Naeem Wahid. Instead, he says the MPC will be forced to wait until the inflation outlook changes direction, in the meantime the economy is left open to further deterioration.