Pound falls after Carney says BoE could respond promptly to economic weakness
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FILE PHOTO: Mark Carney, Governor of the Bank of England, speaks at a Bank of England Financial Stability Report news conference in London, Britain December 16, 2019. Kirsty Wigglesworth/Pool via REUTERS/File Photo
LONDON (Reuters) - Sterling fell to a near two-week low against the U.S. dollar after Bank of England chief Mark Carney said that there could be a "relatively prompt response" from the bank if it looked like weakness in the economy will persist.
Sterling was last down 0.5% at $1.3028, its lowest level since Dec. 27.
British government bond yields fell, with two-year gilt yields last down almost 5 basis points on the day at 0.59%
Money markets currently price a roughly 60% chance of a 25 basis point interest rate cut by December, versus just over 50% at the end of 2019
(Reporting by the London Markets Team, writing by Yoruk Bahceli)
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