Pound Drops While Stocks Jump as Carney Tips Easing; Bonds Rise
- Crude retreats on last day of its best quarter since 2009
- Asian index futures signal more gains with Hong Kong shut
Carney: BOE Likely Will Loosen Policy This Summer
The pound weakened, while global equities extended their rally after central banks in Europe signaled looser monetary policy, bolstering speculation officials will do all they can to prevent the U.K. secession from roiling financial markets. Bonds also advanced.
Sterling slipped 0.9 percent to $1.3311, capping its worst quarterly trouncing since 2008 after the Bank of England said it may need to cut interest rates within months. The euro fell as the region’s central bank indicated it may expand the scope of its bond buying. The S&P 500 Index erased a monthly loss with its biggest three-day rally since February, while European stocks capped a surge of 6.8 percent since Monday, the most since 2011, as global shares erased a loss for the quarter. Brazil’s real had its best month since 2003.