Pound sterling slumps after Mark Carney casts doubt on May interest rate hike
Earlier this week sterling had hits its highest level against the dollar since the June 2016 Brexit vote as trader bet heavily on another hike in the cost of borrowing next month
The pound fell sharply on Thursday evening after the Governor of the Bank of England, Mark Carney, cast doubt on another interest rate hike next month.
Speaking to the BBC in Washington, Mr Carney drew attention to the “mixed data” from the UK economy this week and said he didn’t want to be “too focused on the precise timing” of when rates might next rise.
Read more Sterling rises as Mark Carney signals hawkish stance on rates Mark Carney says Bank to revise up its GDP growth forecasts Mark Carney says inflation has further to rise Earlier this week sterling had hits its highest level against the dollar since the June 2016 Brexit vote as traders bet heavily on another hike in the cost of borrowing coming in May, following last November’s increase.
But in the wake of the Governor’s dovish comments in fell..