Sterling retreats from 5-month high
London
STERLING retreated from a five-month high on Wednesday after the governor of the Bank of England said that recent currency strength would affect monetary policy and the central bank lowered its growth forecasts for Britain in a quarterly report.
The BOE expects growth this year to come in at 2.4 per cent, it said in its quarterly Inflation Report, down from a 2.9 per cent projection in February and closer to what most other economic forecasters expect.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
BlackRock, Citadel reap billion-dollar deals from Australia fund
Credit Suisse faces 50 billion won South Korea short-sale fine
Nvidia supplier SK Hynix says HBM chips almost sold out for 2025
Jim Beam owner bets on canned vodka cocktails to double revenue
Hot stock: Nio climbs about 19.8% on stronger vehicle delivery performance
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO