The British Pound Sterling, on Wednesday, February 8, recovered against the Euro, US Dollar and other majors after some surprising comments made by a member of the Bank of England’s key decision-making Monetary Policy Committee.
The Pound to Dollar exchange rate recovered its losses as a result and is quoted at 1.2518 at the time of writing (Wednesday morning update) having hit a low of 1.2346 on Tuesday January 8.
The Pound to Euro exchange rate also advanced and reached 1.1730 having been as low as 1.1573 the day before.
External Member of the MPC, Kirstin Forbes, appeared to be at odds with her peers at the Bank when she said she believes an interest rate could soon be warranted.
The call comes days after the British Pound slumped as the MPC voted 9-0 to keep rates unchanged while at the same time suggesting no rates were foreseeable over coming months.
Forbes believes there is too much easy money in the UK economy which is performing well, and this could well overcook prices in the future, PoundSterlingLive reports.
