Wednesday, April 18, 2007

U.K. Pound Touches Highest in More Than Quarter Century on Bank Minutes

(Bloomberg) -- The pound touched its strongest in more than a quarter-century after a U.K. report showed wage growth quickened and the Bank of England's minutes said two policy makers voted for higher interest rates.

The government said incomes grew at the fastest pace since 2004. Futures prices show investors added to bets the central bank will probably raise its benchmark rate twice this year, to the highest among Group of Seven nations. Inflation is the fastest in a decade, the government said yesterday.


Read more at Bloomberg Currencies News

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