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Bank of England not indifferent to level of sterling: Carney
October 14, 2016 / 10:27 AM / a year ago

Bank of England not indifferent to level of sterling: Carney

NOTTINGHAM, England (Reuters) - Bank of England Governor Mark Carney said on Friday that the central bank was not indifferent to the level of sterling, which has fallen sharply since Britain decided to leave the European Union in a referendum in June.

“Our job is not to target the exchange rate, our job is to target inflation,” he said during a public meeting.

“But that doesn’t mean we’re indifferent to the level of sterling. It does matter, ultimately, (for) inflation and over the course of two to three years out, so it matters to the conduct of monetary policy.”

Reporting by Andy Bruce and Peter Hobson; Writing by William Schomberg; Editing by Louise Ireland

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