Dr El-Erian, president of Queens' College, Cambridge and chief economic adviser at financial services giant Allianz, told the BBC's Today programme: "Relative to what would have happened otherwise, we ...

"Somehow in the UK, someone needs to accept that they're worse off and stop trying to maintain their real spending power by bidding up prices, whether through higher wages ...

The central bank's chief economist signalled in a speech it could not be 'indifferent' over the pound's slump. Source link