Home » Currency Note » Currency Note » Currency Note GBP » GBP: governor Carney defends Bank of England’s analysis

After Jacob Rees-Mogg personally insulted the Bank of England Governor, Mark Carney, for daring to suggest that the UK’s withdrawal from the EU could have a negative impact on the economy, Carney defended the Bank’s analysis. Speaking on the Today Programme, Carney said that this type of analysis was necessary, if only so the Bank could ensure it had more than enough capital to absorb the potential losses to the banking sector.

Sterling fell back below the $1.28 level and it lost some ground against the euro too. It is fair to say that we could see some significant sterling volatility in the next couple of weeks, especially if MPs vote against May’s Brexit proposals. The extent of sterling’s moves will largely depend on how many MPs vote against the bill – if it is heavily defeated then there will be increased fears of a no-deal Brexit.

Mortgage approvals came in better than expected for October, with 67,086 approved in October 2018 from an upwardly revised 65,726 in the previous month. It is the highest number of approvals since January. Today we will see Gfk consumer confidence for November, which is expected to drop to -11 from -10 the previous month.

Find out how we can help you

Let us know a little more about your upcoming currency exchange needs. We aim to take the uncertainty away by providing guidance on which services suit your individual requirements. You can then rest, assured your money is not at the mercy of the currency markets.

Protect against risk

Avoid losing money and protect against currencies moving against you.

Dedicated trader

Dedicated currency trader working with you to get the best value for your money.

Secure and efficient transfers

Secure, quick and efficient transfers. Authorised by the FCA.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Keep up to date

Get regular, jargon-free currency market updates delivered directly to your inbox.

  • We handle your data with care and only ever as outlined in our Privacy Policy.

Refer a friend or business

Recommend our services to your friends, family or colleagues and earn great rewards.

You have Successfully Subscribed!