The Bank of England discovered about 120 years ago that women were ideal for some of its most tedious work: processing old banknotes. Now, the bank counts on its female staff to set rules for one of the world’s top financial centers -- before they leave early to pick up the kids.
Strategists are raising their forecasts for the pound more than for any other currency versus the euro on speculation an improving U.K. economy is making the central bank more tolerant of a stronger exchange rate.
Bank of England Governor Mervyn King said it may be appropriate to review the U.K.’s inflation- targeting regime, and that government measures to strengthen the economy are needed to underpin a “gentle recovery.”
Bank of England Governor Mervyn King will return to the scene of some of his most acidic public encounters today for the annual occasion that helped define his relationship with Britain’s banking industry.