Drop in pound could warrant removing some accommodation, BoE´s Broadbent says

The drop in the value of Sterling could conceivably - depending on the conditions - warrant removing some monetary accomodation, Bank of England Deputy Governor Ben Broadbent said.

So far, the depreciation of the currency had been "pretty orderly, actually", he remarked.

"Could the currency fall far enough, hard enough, fast enough to warrant a reversal of course, and some removal of monetary accommodation? The answer is yes, in principle. That has to be judged in the context of what it does to inflation," the reta-setter at a Wall Street Journal event held in London.

As a matter of policy, the BoE did not target a specific level for Sterling, he added.

As of 1206 BST cable was off by 0.08% to 1.2716, after having hit an intra-day low of 1.2685.