(Bloomberg) -- The pound fell to the lowest in more
than a week after a report showed U.K. house-price growth almost
stalled in July, signaling five interest-rate increases in the
past year are beginning to bite.
The U.K. currency slid from near a 26-year high against the
dollar after Nationwide Building Society said house prices rose
0.1 percent from June, the slowest pace of growth in 15 months.
Bank of England Deputy Governor John Gieve said this week that
benchmark borrowing costs are probably ``restrictive'' at a six-
year high of 5.75 percent.
Read more at Bloomberg Currencies News
than a week after a report showed U.K. house-price growth almost
stalled in July, signaling five interest-rate increases in the
past year are beginning to bite.
The U.K. currency slid from near a 26-year high against the
dollar after Nationwide Building Society said house prices rose
0.1 percent from June, the slowest pace of growth in 15 months.
Bank of England Deputy Governor John Gieve said this week that
benchmark borrowing costs are probably ``restrictive'' at a six-
year high of 5.75 percent.
Read more at Bloomberg Currencies News
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