(Bloomberg) -- The pound posted a quarterly gain,
its sixth in a row, after a rise in consumer and mortgage lending
supported the view that the Bank of England will keep raising
interest rates to curb inflation.
Data showed consumer credit growth almost doubled in May and
mortgage approvals unexpectedly rose to a three-month high,
suggesting the BOE must do more to cool price growth. Policy
makers next decide on interest rates on July 5, and economists
surveyed by Bloomberg News expect them to lift the main benchmark
a quarter-point to 5.75 percent.
Read more at Bloomberg Currencies News
its sixth in a row, after a rise in consumer and mortgage lending
supported the view that the Bank of England will keep raising
interest rates to curb inflation.
Data showed consumer credit growth almost doubled in May and
mortgage approvals unexpectedly rose to a three-month high,
suggesting the BOE must do more to cool price growth. Policy
makers next decide on interest rates on July 5, and economists
surveyed by Bloomberg News expect them to lift the main benchmark
a quarter-point to 5.75 percent.
Read more at Bloomberg Currencies News
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