The pound weakened to its lowest level against the dollar since 1985 yesterday and was also weak against the euro. New Bank of England Governor, Andrew Bailey, has said that the Bank is watching sterling very closely and added that there is no “single story” to the pound’s decline.
It’s thought that the Bank of England will announce a fresh batch of quantitative easing and possibly another interest rate cut at their next meeting.
Scotland, Wales and England have now announced school closures from Friday. The government has said that they will provide more information on what this means for the children of key workers and those due to take important exams.
