New Overnight Developments Abroad - Daily Update
Sterling Weakened After Release of Bank of England Report
February 16, 2011
The pound fell 0.7% against the dollar, depressed by the Bank of England’s quarterly Inflation Report, which predicted sub-2% CPI inflation late next year if rates were to rise as markets are discounting. Projected British growth was revised downward because of the fiscal austerity. Higher than expected inflation now and somewhat higher expected inflation do […] More
