BREAKING : Bank of England Signals Faster Rate Rises

‎BREAKING : Bank of England Signals Faster Rate Rises

The Bank of England said it expects to raise interest rates in the U.K. at a swifter pace than it anticipated last year, responding to stronger growth in the global economy.

The BOE's message comes as investors worry that more rapid growth could fuel higher inflation and a more aggressive response from global central banks. Those worries have helped prompt selloffs in world financial markets this week.

The BOE said it held its benchmark interest rate steady this month but said the three quarter-point rate increases that investors anticipate over the next three years would be insufficient to bring annual inflation back to its 2% target, from 3% in December.

Impact : Strong 

Sentiment : Good for GBP

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