(Bloomberg) -- The U.K. sterling traded near its
highest in two months after Bank of England policy maker John
Gieve indicated interest rates are still too low to curb credit
growth in Europe's second-biggest economy.
The U.K. currency broke through $2 for the second time in as
many days yesterday on views borrowing costs will rise further.
Gieve, who spoke late yesterday, joined BOE Governor Mervyn King
and two other members of the Monetary Policy Committee in voting
for a rate increase in June. They were outvoted by the other five
MPC members who favored holding rates at 5.5 percent.
Read more at Bloomberg Currencies News
highest in two months after Bank of England policy maker John
Gieve indicated interest rates are still too low to curb credit
growth in Europe's second-biggest economy.
The U.K. currency broke through $2 for the second time in as
many days yesterday on views borrowing costs will rise further.
Gieve, who spoke late yesterday, joined BOE Governor Mervyn King
and two other members of the Monetary Policy Committee in voting
for a rate increase in June. They were outvoted by the other five
MPC members who favored holding rates at 5.5 percent.
Read more at Bloomberg Currencies News
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