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MNI BRIEF: BOE Not Targeting Level Of Sterling Through Policy

(MNI) London
(MNI) London
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The Bank of England does not target the exchange rate when setting monetary policy, Governor Andrew Bailey said Wednesday, noting that the currency was treated as an input into the overall economic and policy mix.

The weaker exchange rate has both positive and negative effects on the economy Bailey said, but he did note the decline in recent months had not been a surprise.

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The Bank of England does not target the exchange rate when setting monetary policy, Governor Andrew Bailey said Wednesday, noting that the currency was treated as an input into the overall economic and policy mix.

The weaker exchange rate has both positive and negative effects on the economy Bailey said, but he did note the decline in recent months had not been a surprise.

Keep reading...Show less