(Adds dropped word 'not' in final paragraph)
LONDON Nov 15 The Bank of England might lower
the unemployment rate threshold at which it would consider
whether to raise interest rates, BoE policymaker Martin Weale
said on Friday.
"If it looks as though, as some of my colleagues expect to
happen, that the lost productivity ground is being made up, and
that the economy is growing nicely but not at a stonking pace,
we could certainly think of, as Charlie Bean said, moving the
threshold," Weale told reporters after a speech.
"It all depends what the economy looks like when we get to 7
The BoE, in an attempt to spur Britain's economy fully back
to health, has said it will consider raising interest rates from
their record low of 0.5 percent once unemployment falls below 7
percent, from 7.6 percent now.
BoE deputy governor Charlie Bean suggested last month that
the threshold could be lowered if domestic inflation pressures
appeared muted and Bank of England Governor Mark Carney said
this week that such a change could not be ruled out.
(Reporting by William James, writing by William Schomberg;
Editing by John Stonestreet and Sonya Hepinstall)