Archive for February 16th, 2011

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