(Bloomberg) -- The pound rose above $2 for the third
day this week as quickening U.K. house-price growth spurred
speculation the Bank of England will resume raising interest
rates to push inflation back below its target.
The pound rose to the highest since May 1 versus the dollar
after the Nationwide Building Society said U.K. property-price
inflation accelerated to a 2 1/2-year high. BOE Governor Mervyn
King, who told lawmakers this morning there have been signs the
U.K. economy may be slowing, was among the policy makers who
backed higher rates at the BOE's last meeting.
Read more at Bloomberg Currencies News
day this week as quickening U.K. house-price growth spurred
speculation the Bank of England will resume raising interest
rates to push inflation back below its target.
The pound rose to the highest since May 1 versus the dollar
after the Nationwide Building Society said U.K. property-price
inflation accelerated to a 2 1/2-year high. BOE Governor Mervyn
King, who told lawmakers this morning there have been signs the
U.K. economy may be slowing, was among the policy makers who
backed higher rates at the BOE's last meeting.
Read more at Bloomberg Currencies News
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