Will BOE's Policy Measures Have Desired Impact?
The pound fell for a fifth day and touched its weakest level in almost a month after the Bank of England started its expanded monetary easing program to contain the economic fallout from the U.K.’s vote to leave the European Union. The British currency weakened against all 16 of its major peers. As well as cutting interest rates for the first time since 2009, the central bank on Aug. 4 exceeded economists’ expectations with an announcement that it would increase its gilt-purchase program by 60 billion pounds ($78 billion) to 435 billion pounds, starting this week. Cazenove Chief Investment Officer Richard Jeffrey discusses with Bloomberg's Francine Lacqua on "The Pulse."