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MNI BRIEF: Pound Key Metric For BOE, But No Target Level- Mann

(MNI) London
(MNI) London

The BOE monitors the impact of the exchange rate on the economy, but does not target a specific level, MPC member Catherine Mann says.

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The sterling exchange rate is an important metric for the Bank of England to monitor when looking at the overall economic picture, Monetary Policy Committee member Catherine Mann said on Thursday, but she added that policymakers do not look to target any specific level for the currency.

Mann, speaking at an event hosted by LC Macro Advisors, said the exchange rate affected prices, trade and overall confidence, and particular attention was needed when dollar-priced commodities were at such lofty levels.

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The sterling exchange rate is an important metric for the Bank of England to monitor when looking at the overall economic picture, Monetary Policy Committee member Catherine Mann said on Thursday, but she added that policymakers do not look to target any specific level for the currency.

Mann, speaking at an event hosted by LC Macro Advisors, said the exchange rate affected prices, trade and overall confidence, and particular attention was needed when dollar-priced commodities were at such lofty levels.

Keep reading...Show less