23/06/2017 – This Morning’s Exchange Rates
- Posted by currencies in Rate Alerts
- June 23, 2017
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Today’s exchange rates are listed at the bottom of this article. Please note for live prices contact us as the rates listed are for indication only.
Sterling gained by almost half a percent against the dollar today, helped by a shift in expectations for interest rates that has some in the market backing the Bank of England to raise borrowing costs within months.
Analysts on Thursday flipped to calling for a rise in rates within six months, after the defection over the past week of three members of the BoE’s policy committee to the camp backing higher rates.
Policy hawk, Kristin Forbes, in her last speech before leaving the bank, urged colleagues on Thursday evening to raise rates immediately to quell the inflation pressure stemming from a weaker pound.
Short-term UK market interest rates have shifted since a speech by the Bank’s chief economist, Andy Haldane, earlier this week, with short sterling pricing in a strong chance of a rise in rates by December.
That puts aside the doubts of many that the UK economy – and household demand – are currently ill-equipped to swallow higher interest rates.
Prime Minister Theresa May said the offer she had made on the rights of EU citizens to live in Britain after Brexit was very fair and very serious and that her government would set out more detailed proposals on Monday.
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