Sterling resumes fall after Mark Carney's comments

The Bank of England is not indifferent to the level of sterling, its governor said yesterday, which has slumped in value since British voters decided to leave the EU in June.

He also said the bank would tolerate slightly higher inflation than its formal target if necessary.

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