Stockholm | Bank of England governor Andrew Bailey has told Britain’s pension funds they have three days to get their over-leveraged houses in order, seemingly ruling out any extension to the BoE’s £65 billion ($114 billion) bond-market rescue.
The pound dropped sharply against the US dollar after Mr Bailey’s remarks to the Institute of International Finance’s annual meeting in Washington on Tuesday (Wednesday AEST), touching an October low of $US1.09.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
