Carney's battle for a sound British pound

The Bank of England's incoming governor, Canadian Mark Carney, says he has no intention of entering into the global currency wars. With his neighbours talking devaluation, however, it will be a struggle.

Whoever fires the next shot in the lead-up to a brewing global currency war, one thing is clear: the shooter won't be incoming Bank of England governor Mark Carney.

In his appearance before a UK parliamentary committee overnight, Carney stressed that any rethink of British monetary policy should be cautious and slow-moving.

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