Darling repeats BOE policy is to target inflation, not currency

UK chancellor Darling is on the wires saying we’ve seen extraordinary exchange rate volatility, but in essence, that the UK isn’t going to do anything about it. he repeated that the BOE targets inflation, not the pound.

The market is not showing much reaction, hearing essentially the same message from the Prime Minister over the weekend. It trades now at 1.4350 while EUR/GBP is at 0.9035.