Wednesday 26 October 2016

The Bank of England has called the fall of the pound "significant" will take into account in policy

The head of the British central bank Governor Mark Carney said that the fall in the value of sterling has appeared "quite significant" and the responsible for interest rate policy officials will consider it.
Speaking on Tuesday before lawmakers, Carney reiterated that the Bank of England is not aimed at a particular level of the pound, but is not indifferent to the exchange rate of the national currency.
Carney believes that the recent weakening of the pound after the annual conference of the ruling Conservative Party in October was not due to a change of opinion about the likely actions of the Bank of England's interest rate.
In early October, the pound fell to a minimum of 30 years.
Investors felt that the new British prime minister Theresa May will choose a hard-line approach to the forthcoming negotiations with the European Union about the Brexit, and this can greatly complicate access to European markets of London. May promises to begin formal negotiations on Brexit by March next year.
According to Carney, the pound starts to really vary, as time frame for lauching the 50th article is clarified, the pound is also sensitive from market perception - what will be the potential relationship between the United Kingdom and Europe.


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