23 October 2001, 12:29  BoE MPC's Allsop sees further UK rate reductions

LONDON (AFX) - The weakness in the global economy and the possibility of flagging consumer demand all point to lower interest rates in the UK, according to Bank of England's Monetary Policy Committee member Christopher Allsop. "My own assessment is that there is weakness out there that would suggest lower interest rates in the future. The question is when," Allsop said in an interview with the Independent. Allsop believes that consumer demand is at risk. "If you look further ahead, the risk is that consumer demand will go down for a complex set of reasons that include international forces, what is happening to manufacturing and redundancies coming through," he said.

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