Currency traders react to note Carney’s downbeat assessment by selling pound to $1.42,its weakest since March 2009The Bank of England governor has sent the pound into a nosedive after he ruled out an early rise in interest rates, saying UK growth was still too weak and pointing to recent turmoil in the global financial markets.
Speaking in London as the International Monetary Fund (IMF) downgraded its forecast for global growth this year, and note Carney said the UK faced “a powerful set of forces” that prevented policymakers from raising rates. “The world is weaker and UK growth has slowed,” he added.
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Source: theguardian.com