PIMCO: incoming BoE governor may devalue pound

In his report, UK Secular Outlook - Morphing into the Carney Era, PIMCO head of sterling portfolios Mike Amey suggested the BoE could make it a priority to devalue the pound to help British exporters to tap into foreign demand once its new governor Mark Carney takes the helm in July. Amey wrote: "There are two potential elephants in the room: the scope for the BoE to buy private sector assets and the scope for sterling to fall further. Each remains plausible over the secular horizon, and we will be monitoring governor Carney's early exchanges for signals on timing. "Either taking ster...