Qualified advisers answering your
Financial Questions
call 0800 092 1245

Bank Of England jumps to the defence of Mervyn King

Mervyn King, the Gov of the Bank of England, has today received support from his employers with regards to suggestions he is "looking to talk down the pound". This is a subject we have covered over the last few days, with certain comments from Mervyn King appearing to have been interpreted by the currency markets in a rather depressing manner. However, Mervyn King believes that his comments had been "misinterpreted" by currency traders and he was not looking to talk down the value of the UK currency.

This is a very tricky situation for the UK government and the Bank of England because ultimately a lower exchange rate for the UK pound would lead to more investment from overseas investors but would also lead to a higher cost of living for UK consumers. Whether or not Mervyn King was looking to talk down the value of the UK pound remains to be seen but what is certain is that the damage has already been done. So where do we go from here?

There is a feeling that Mervyn King in particular needs to address the issue directly over the coming weeks and perhaps try to place a more positive spin on the UK recovery phase. Whether or not he has "blotted his copy book" once too often with money markets remains to be seen but this is a very serious and potentially difficult situation to resolve.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details