(Bloomberg) -- The pound may extend gains from its highest since September 1992 on expectation the Bank of England will raise interest rates twice more this year to bring inflation back towards its target.
The pound broke through the $2 mark for the first time in 15 years yesterday after a government report showed inflation unexpectedly quickened, breaching the bank's 2 percent target by more than 1 percentage point. Futures trading suggests policy makers will raise rates next month and probably once more this year. The bank will publish minutes from its last rate meeting at 9:30 a.m. in London today.
Read more at Bloomberg Currencies News
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