Sterling Rises as Markets Raise BOE Rate Hike Expectations
Dow Jones
Sep 09
1012 GMT - Sterling edges higher as markets raise their bets on the possibility of the Bank of England increasing interest rates in the coming months. The BOE Governor Andrew Bailey said that U.K. inflation risks are "on the upside" during a presentation before parliament's Treasury Committee on Tuesday, causing investors to raise their expectations of a rate rise in 2026. Markets price in one BOE rate increase this year, and a total of three rate rises by July 2027, LSEG data show. Sterling trades at $1.3538, having climbed to a 13-day high of $1.3567 earlier in the session, LSEG data show.
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