UK leadership candidate Sunak says scrapping BoE independence would be a massive mistake

Credit: REUTERS/TOBY MELVILLE

LONDON, Aug 11 (Reuters) - Rishi Sunak, the underdog in the race to become Britain's next prime minister, said scrapping the Bank of England's independence would be a mistake that would scare off international investors.

Asked about comments from leadership front-runner Liz Truss's team suggesting that the central bank's rate-setting independence should be reviewed, Sunak said: "That would be a massive mistake for our country, and international investors would really not look very kindly on it at all."

Sunak was speaking at an event for Conservative Party members who are voting over the next few weeks to decide the country's next leader.

(Reporting by William James; editing by Jonathan Oatis)

((william.james@thomsonreuters.com; @wjames_reuters; +44 20 7513 4401;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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