Most of the money supply is created by private banks, not central banks, by lending. Anybody talking about 'M1 money' know this btw, and just try to bullshit a

Most of the money supply is created by private banks, not central banks, by lending. Anybody talking about 'M1 money' know this btw, and just try to bullshit around to fit their narrative. Having a country's money devaluate mean that investors aren't confident of the future value of the production of said country. You can devaluate by having high inflation compared to your neighbors, but in this case I'd bet on a confidence crisis. I didn't follow UK politic too closely but they recently ousted their PM? And the Ukraine war doesn't help with confidence. Also the trade numbers seems to not have recovered from COVID-19, unlike most EU countries, which cannot help.