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Central banks prefer pound sterling for their reserve investments

Central banks prefer the pound sterling as a long-term, stable alternative, but not the euro, the Financial Times reports with reference to the study of Central Banking Publications and HSBC Bank.

In survey 80 reserve managers of central banks took part, their total investment amounted to €6 trillion. Some of the surveyed bankers completely got rid of the euro, others - reduced their assets in the European currency to a minimum level.

Distrust of the euro is caused by concerns over political instability in the European Union, low growth rates, as well as the monetary policy of the European Central Bank.

Despite the procedure for the UK's departure from the EU, launched by the British Prime Minister Theresa May last week, most of the world's central banks consider the United Kingdom a more reliable place for their reserve investments than the eurozone.

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