(Bloomberg) -- The U.K. pound may gain on
speculation Bank of England Governor Mervyn King will tell
lawmakers the central bank needs to resume raising interest rates
to push inflation back below its target.
The pound climbed above $2 per dollar for the first time
since May 2 this week as investors raised bets the central bank
will lift borrowing costs that are already the highest in the
Group of 7 nations. King, who's due to testify before Parliament
today, was among the policy makers who backed higher rates at the
BOE's last meeting. The majority decided to keep rates unchanged.
Read more at Bloomberg Currencies News
speculation Bank of England Governor Mervyn King will tell
lawmakers the central bank needs to resume raising interest rates
to push inflation back below its target.
The pound climbed above $2 per dollar for the first time
since May 2 this week as investors raised bets the central bank
will lift borrowing costs that are already the highest in the
Group of 7 nations. King, who's due to testify before Parliament
today, was among the policy makers who backed higher rates at the
BOE's last meeting. The majority decided to keep rates unchanged.
Read more at Bloomberg Currencies News
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