BoE Gov Bailey: Stronger rates response needed to fight inflation, GBP/USD back above 1.1230 pre-open – by fx_ross BOE GBPUSD
Governor Andrew said on Saturday that inflationary pressures might require a stronger interest rates response from the central bank than it had envisioned in August."We will not hesitate to raise interest rates to meet the inflation target," Bailey said at an event on the sidelines of the International Monetary Fund Meetings in Washington.
The remarks would be expected to support GBP/USD in the open. Early prices are showing GBP/USD rising by 0.58% into the 1.1230s in thin markets. Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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