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Sterling dips after BoE's Broadbent says not ready to hike
July 12, 2017 / 6:34 AM / 2 months ago

Sterling dips after BoE's Broadbent says not ready to hike

LONDON, July 12 (Reuters) - Sterling hit a two-week low against the dollar and deepened a fall to its lowest in 8 months against the euro on Wednesday after Bank of England Deputy Governor Ben Broadbent said he was not yet ready to raise interest rates.

In an interview for local Scottish newspaper the Press and Journal, Broadbent said that while there was reason to see the bank moving towards higher rates, there were “a lot of imponderables”.

Sterling dipped around a quarter of a percent to as low as $1.2815 in response. It weakened similarly to 89.49 pence per euro, its lowest since Donald Trump’s election as U.S. President last November. (Reporting by Abhinvan Ramnarayan, Patrick Graham and Saikat Chatterjee)

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