The Great Britain pound rose today, erasing yesterday’s losses versus the US dollar, as third policy maker of the Bank of England joined those who are voting for an increase of the interest rates.
The majority of the policy makers still believe that the rates should be left unchanged but the increasing number of the central bank’s members voting for an increase fuels the anticipation of the rates hike. The minutes of the Monetary Policy Committee said that:
Andrew Sentance preferred to increase Bank Rate by 50 basis points. Spencer Dale and Martin Weale preferred to increase Bank Rate by 25 basis points.
GBP/USD traded near 1.6221 today as of 16:55 GMT after it earlier rose from 1.6134 to 1.6272.
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