Sterling hits 15-month high as high wage growth heaps pressure on the BOE

  • 📰 ReutersAfrica
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 53%

Loans Loans Headlines News

Loans Loans Latest News,Loans Loans Headlines

The pound rose to a 15-month high against the dollar on Tuesday after data showed pay growth exceeded expectations, adding to pressure on the Bank of England to keep raising interest rates.

Pound Sterling notes and change are seen inside a cash resgister in a coffee shop in Manchester, Britain, Septem,ber 21, 2018. REUTERS/Phil Noble/File Photopay growth exceeded expectationsBritish wages excluding bonuses were 7.3% higher in the three months to May than a year earlier, figures from the Office for National Statistics showed on Tuesday. Economists polled by Reuters had forecast a 7.1% rise.

Sterling rose 0.3% against the dollar to $1.2899, touching its highest level since April 25 last year.Reporting by Samuel Indyk; Editing by Amanda Cooper

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 31. in LOANS

Loans Loans Latest News, Loans Loans Headlines