A bureau de change advertises it's currency exchange rates in London, Britain October 12, 2016. REUTERS/Peter Nicholls
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Sterling's near 20-percent plunge following Britain's vote in June to leave the EU has brought the currency to the ideal rate for the U.K. economy, according to a Reuters poll of economists taken in the past few days.The poll also found the BoE, which targets inflation at 2 percent, would stomach it rising from 1 percent currently to 3.5 percent next year before considering changing the neutral stance it only just shifted to from an easing bias last week.Two-thirds of respondents in the Nov 4-7 poll were based in the United Kingdom.Against the euro, which matters more for trade as nearly half of Britain's exports to go to the EU, the median ideal rate was 88 pence to the euro, slightly above where it was trading on Monday.Britain's economy has so far performed much better than was almost unanimously predicted by economists soon after the referendum and the BoE raised its forecasts for 2017 growth and inflation sharply last week.
FOLLOW THIS ARTICLE