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But the peso is likely to come under downward pressure, making imports more expensive and thus pushing up inflation.
A loose monetary, tight fiscal policy environment is rarely good news for a currency and as a result we look for sterling to remain under downward pressure.
The stronger pound helped cut manufacturers' bills for fuel and raw materials, already under downward pressure because of falling commodity prices.
The group's latest monthly survey shows that house prices remain under downward pressure, edging down by 0.1% in June – the same drop as in May.
Indeed, household indebtedness remains at very high levels and household incomes are under downward pressure from a weak labour market and higher taxes".
The chancellor believes that the departure of the governor would create needless instability at a time when the pound has been under downward pressure on foreign exchanges.
Similar(38)
Wei Yao, an analyst at Société Générale, said: "Judging from recent data, the economy is still under immense downward pressure".
Oil prices came under renewed downward pressure on Monday after Opec stressed it had no immediate intention of curbing production.
If they were, they might come under some downward pressure from the 4.4m Germans who do not have a job.
As a result, it said, "unemployment is set to move higher, and already-low inflation will be under further downward pressure.
If China were running a large deficit, its currency would now be under severe downward pressure given all the concerns about its economy.
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