Ex-BOE’s Blanchflower: "Absolutely no basis" for a rate hike as early as November”

David Blanchflower, a former member of the Bank of England's (BOE) rate-setting Monetary Policy Committee, wrote the following in the UK press overnight:

"Absolutely no basis" for an increase in rates as early as November”

Cites weak data on the economy

"The enhanced uncertainty over the form Brexit will take will constrain growth even further. Cut the stupid stuff. Britain is the sick man of Europe"