Pound’s Drop on Carney Adds to Slide That May Soften Brexit Blow
- Easing may be neccessary within months, Carney says Thursday
- Carmaker Aston Martin said pound drop ‘good’ in short term
Does Carney's Brexit Warning Justify the Remedy?
This article is for subscribers only.
Mark Carney has halted the pound’s recovery in its tracks.
The U.K. currency extended its decline versus the euro into a second day Friday, a day after Bank of England Governor said that officials may need to loosen monetary policy as they try to contain the fallout from Britain’s decision to quit the European Union. His remarks also halted a two-day rally in sterling versus the dollar and, though the pound was little changed Friday, it’s still more than 10 percent weaker against the greenback since polls closed on June 23.