(Bloomberg) -- The pound traded near a 26-year high
against the dollar after the Bank of England raised interest
rates and signaled that further increases are needed to curb
inflation.
Policy makers lifted borrowing costs a quarter-point, to a
six-year high of 5.75 percent, for the fifth time in 12 months.
Expectations for further increases this year matched a record
high today, futures trading showed. The BOE said inflation risks
in the medium term ``lie to the upside.''
Read more at Bloomberg Currencies News
against the dollar after the Bank of England raised interest
rates and signaled that further increases are needed to curb
inflation.
Policy makers lifted borrowing costs a quarter-point, to a
six-year high of 5.75 percent, for the fifth time in 12 months.
Expectations for further increases this year matched a record
high today, futures trading showed. The BOE said inflation risks
in the medium term ``lie to the upside.''
Read more at Bloomberg Currencies News
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