The Financial Times with a piece on GBP and the Bank of England
First off, chief economist of the Bank Andy Haldane: "Depreciations work"
- "The combination of the weakening of the pound and the strengthening of the world economy has worked its magic," he said, and this has provided a boost to net trade, helping to offset some of the other headwinds facing the economy
Mark Carney, governor of the Bank of England, immediately disagreed.
- "Depreciations don't work. They have an economic effect, but they're not a good economic strategy," he said. "They may be an outcome of various things . . . but it's how you make yourself poorer."
Article is here, it'll make everyone happy! (or unhappy) BoE economists disagree over whether depreciations work
More from the Bank of England from over the weekend here: BoE deputy governor Sir Dave Ramsden sees faster rate rises
