BoE officials grilled on weakening sterling
Members of the MPC ask whether the currency's depreciation will cause the BoE to hike
A weaker currency could help return inflation to target, but the Bank of England (BoE) will not attempt to push the pound lower, officials told the Treasury Committee today (February 23).
The pound has fallen 1.22% against the euro since February 19, when the UK government announced the date of the forthcoming EU referendum – June 23. Members of the BoE's monetary policy committee were today (February 23) grilled on whether the fall would continue and its potential impact on policy.
Speaking
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