Pound Slips Following BoE Inflation Report
The pound slipped following the release of the BoE's quarterly inflation report today, which said that inflation is likely to rise sharply in the near term, and that there are big downside risks for the UK economy.
Bank of England governor Mervyn King subsequently once again reiterated his opinion that a weak sterling would help the UK economy in terms of improving exports.
His comments come just over 24 hours after Fitch Ratings warned that the UK was the most likely of the G10 nations to lose it's AAA sovereign credit rating.
Bank of England governor Mervyn King subsequently once again reiterated his opinion that a weak sterling would help the UK economy in terms of improving exports.
His comments come just over 24 hours after Fitch Ratings warned that the UK was the most likely of the G10 nations to lose it's AAA sovereign credit rating.
