A top Bank of England official dismissed concerns about falls in the value of the pound yesterday as Remain campaigners claimed Brexit was making Britain ‘poorer’. Michael Saunders, a member of the bank’s Monetary Policy Committee, which sets interest rates, said the reduced value of sterling was ‘not a cause for concern’, and simply reflected the currency adjusting to life after the Brexit vote.
‘If all that is happening is that we are adjusting quickly to a new equilibrium, to me that is not a cause for concern,’ he told MPs. Mr Saunders said it would not be a surprise to see the pound fall further given the size of Britain’s current account deficit............................................Full Article: Source
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