Market News
Sterling keeps rising after the Bank of England raised the bar on rate cuts - REUTERS
By Reuters
Summary
- Sterling gains against dollar
- UK economy grows 0.1% in third quarter, BoE expects zero growth in fourth quarter
- Money markets price in at least one rate cut in 2026
LONDON, Dec 22 (Reuters) - The pound rose on Monday, building on gains made last week after the Bank of England delivered a widely expected rate cut, but suggested that the bar for further declines was high, given persistent inflation.
Sterling was up 0.48% against the dollar at around $1.3438, having ended the previous week flat after hitting a two-month high. It is up over 1% so far this month, bringing the gain for the year to around 7%.
