(Bloomberg) -- The pound rose to its highest since September 1992 on speculation the minutes of the Bank of England's last meeting will suggest policy makers are minded to raise interest rates twice more this year to head off inflation.
The pound broke through the $2 mark for the first time in 15 years yesterday after a government report showed inflation unexpectedly quickened, breaching the bank's 2 percent target by more than 1 percentage point. Ten out of 22 economists in a Bloomberg News survey predict a three-way split among members of the Monetary Policy Committee, and noone predicts the decision to keep rates on hold at 5.25 percent this month was unanimous.
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