UK’s Rees-Mogg: There doesn't seem to be a systemic problem in pension funds

UK Business Minister Jacob Rees-Mogg said on Wednesday, “there doesn't seem to be a systemic problem in pension funds.”

Additional comments

BOE independence is fundamental to UK stability.

I've got confidence in BOE Governor Andrew Bailey.

Bailey is a respected governor.

Shouldn't be surprised by market moves.

You have to be careful about economic forecasts, most turn out to be inaccurate.

Market reaction

The British pound is digesting the latest dismal UK data, paying little heed to the above comments. The pair was last seen trading at 1.1000, up 0.38% so far.