Sterling resists the weight of UK rate cut speculation
Share:
LONDON (Reuters) - The swift repricing of short-dated UK interest rate futures has sent bond yields plunging but barely moved sterling, which is still holding out hopes of a post-election, post-Brexit inward investment bounce that will lift the pound in time. On Jan. 9, money markets saw just a 20% chance of an interest rate cut this month. But by Jan. 17, dismal UK growth and inflation readings from late 2019 and a series of speeches from Bank of England chief Mark Carney and at least three..