INDUSTRY NEWS

RBS: Pound could help improve trade

The Royal Bank of Scotland (RBS) has said a weakened pound could help improve trade which, in turn, could benefit those in London offices.

Group chief economist Andrew McLaughlin said the UK’s balance of trade will recover because eventually it will help favour exports over imports.

“This provides grounds for cautious optimism that the UK’s trade balance should improve through next year and beyond,” he said.

The pound is currently close to parity with the euro, however the government remain focused on fighting inflation.

“We’ve never had a policy of targeting the pound,” treasury secretary Yvette Cooper told the BBC’s Andrew Marr programme yesterday.

“Our policy is to target inflation, and that I think has been the right one. It has paid off over the last ten or 11 years.”

Most sectors of the UK economy are suffering from the international economic downswing, which has reached from offices in London to small businesses around the country.ADNFCR-1329-ID-18930661-ADNFCR

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