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Pound falls by more than 1%

The pound has fallen by more than 1% after Bank of England governor Mark Carney hinted at fresh economic stimulus measures.
     
He said it was likely some monetary policy easing would be required in response to the Brexit vote.
     
Mr. Carney said a deteriorating economic outlook means action from the Bank is likely during the summer.
      
The Bank's key interest rate - currently at a record low of 0.5% - is its chief tool of monetary policy.
 
A cut in interest rates would have a knock-on effect on savings rates, and makes the pound a less attractive currency to hold and do business in.


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