BOE's Forbes: 'Automatic adjustments' in UK current account seen due STG depreciation since Brexit

Bank of England (BOE) policymaker Kristin Forbes was on the wires last minutes, via Reuters, noting that the depreciation in the pound since the Brexit vote may help improve the UK's net international asset position.

Key Quotes:

“Sterling depreciation since Brexit vote is leading to some automatic adjustments in the UK current account balance”

“Depreciation since the vote should improve the UK's net foreign asset position by over 20% of GDP”

“Improvement in the UK's net international asset position should alleviate investor concerns”