Bank of England Sought to Drive Pound Lower, Blanchflower Says

The Bank of England’s Monetary Policy Committee sought to boost the British economy by lowering the value of the pound, said David Blanchflower, a member of the committee from 2006 through 2009.

Bank of England Governor Mervyn King shared his belief that a lower exchange rate for the British pound would help bolster the economy, Blanchflower, an economics professor at Dartmouth College, said at the Bloomberg European Debt Briefing conference hosted by Bloomberg Link in New York today.