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UPDATE 1-BoE's Weale casts doubts on QE, warns on triple dip - paper

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LONDON, Oct 11 (Reuters) - Another round of quantitativeeasing may not be "compatible" with the Bank of England'sinflation target, and does not provide a definite answer toboost Britain's economy, Martin Weale, a top BoE policymaker,said in comments published on Thursday.

"It is certainly not self-evident to me in the light of theapparent stickiness of inflation that substantial extra supportfor the economy would be compatible with the inflation target.I am concerned about the stickiness of inflation," Weale isquoted as saying in the Daily Mail newspaper.

Weale also warned that Britain could suffer a 'triple-dip'recession, meaning the economy slides back into negative growthlater this year after the briefest of revivals.

"I certainly would not say there is no risk of thathappening. What we have learned over the last four or five yearsis the capacity of the economy to surprise in ways people mightnot have thought possible."

Weale explained that he did not see a definite case forfurther monetary stimulus because "there are two things pullingin opposite directions".

"On the one hand, economic growth is weak and the economylooks to be more or less flat. On the other hand, inflationgives a sense of being becalmed at something above our target,"he said.

Inflation in Britain has dipped to 2.5 percent but stillremains half a percentage point above the BoE's 2 percentinflation target.

"The persistent worry we have is that if people get used tothe idea of high inflation, if they take the view that the Bankof England isn't bothered about the inflation target, it canlead to increased inflation risks and can affect the way inwhich people negotiate wages and set prices."

"You get much greater stability with inflation targeting andfor the regime to be credible people have to think it is takenseriously," said Weale.

(Reporting by Stephen Mangan; Editing by Eric Walsh)

((stephen.mangan@thomsonreuters.com)(+44)(0)(20 7542 7931))

Keywords: BOE WEALE/