Sterling to stay weak 'for some time'

The newest policymaker at the Bank of England warned today that the pound will have to remain weak for some time to rebalance the economy towards exports.

The newest policymaker at the Bank of England warned today that the British pound will have to remain weak for some time to rebalance the UK economy towards exports.

Ben Broadbent, who joined the Bank's Monetary Policy Committee (MPC) in June, added he was "reasonably close" to voting for increasing the Bank's quantitative easing programme, a move which in itself would lower the value of the pound.