BOE's Carney: Depreciations don't work

The Bank of England (BOE) economists are divided on the impact of currency depreciation, according to FT report. Governor Carney believes depreciations don't work, while BOE's Chief Economist Andy Haldane believes the other way round. 

Key quotes (source FT)

“Depreciations don’t work. They have an economic effect, but they’re not a good economic strategy,” he said. “They may be an outcome of various things . . . but it’s how you make yourself poorer.” - Carney