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A Bank of England official warned that the sharp slump in the British pound's value since the Brexit vote would possibly lead to few long-term benefits to exporters.
BOE deputy governor Ben Broadbent stressed Thursday the plunge in the pound's value would only create a provisional sweet spot while Britain is still an EU member.
Broadbent also said that reason was to take account of much challenging trading ties once the United Kingdom departed from the bloc. He noted the sterling would likely climb again should the country strike an accord with the EU so exporters were not affected.
His remarks came as former BOE leader Mervyn King welcomed the impact of Britain's departure from the EU on its currency and on overall UK economic prospects.
