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25 Feb 2014
Poud rises to day's high on BoE McCafferty's interest rate hike comments
FXStreet (Łódź) - BoE policymaker Ian McCafferty said in an interview for Reuters on Tuesday that the timing of the first rate hike in Britain was especially dependant on the direction of inflation moves and that an earlier rise was a possibility in case of increased pressures.
Still, the BoE MPC member stated that the projections pointing to the first hike in the second quarter of 2015 were "not unreasonable."
GBP/USD jumped to 1.6707 imediately after the remarks were made known.
Morevover, McCafferty said that the current strength of the sterling was not damaging UK exports yet but that in case of a further rise the BoE would modify its monetary policy accordingly.
Still, the BoE MPC member stated that the projections pointing to the first hike in the second quarter of 2015 were "not unreasonable."
GBP/USD jumped to 1.6707 imediately after the remarks were made known.
Morevover, McCafferty said that the current strength of the sterling was not damaging UK exports yet but that in case of a further rise the BoE would modify its monetary policy accordingly.