Pound (GBP) Jumps after Hotter-than-Forecast Inflation

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Renewed Bank of England (BoE) interest rate hike bets lifted the Pound (GBP) yesterday following a hotter-than-expected consumer price index. UK inflation remained in double digits at 10.1%, rather than easing to 9.8%, prompting expectations that the BoE will raise interest rates again next month. Movement could be more subdued today amid a lack of economic data. Ongoing BoE bets could help Sterling hold strong.

Published on 26/04/2023

By Michael S.