In an interview with CNBC, British Finance Minister Philip Hammond said that the central bank independence had improved stability and added that the Bank of England has done a ‘pretty good job’ on inflation. Commenting on China, “As China gets bigger, it has to comply with international norms,” Hammond said, per Reuters.
Hammond further announced that he will not continue in his role under the new UK government.
Markets largely ignored Hammond’s comments and the GBP/USD pair was last seen trading at its daily low of 1.2540, erasing nearly 0.3% on a daily basis.
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