Bank of England's Haskel says he is not worried by sterling

© Reuters. British pound banknote is displayed on U.S. Dollar banknotes in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) – Bank of England policymaker Jonathan Haskel said he was not very concerned about the level of sterling, after being challenged about the currency’s weakness.

“I actually don’t worry too much about the currency, to be honest. Currencies go up, currencies go down,” Haskel said in response to a question during a panel discussion at London’s North Western Reform Synagogue.

fell to its lowest since 1985 against the U.S. dollar earlier on Thursday, and is around its lowest since 2020 against a basket of currencies of Britain’s main trading partners.

Haskel added that the quality of a country’s institutions was the most important thing in ensuring investor confidence.