NZ dollar jumps vs. pound after Bank of England warns of low inflation outlook

Wed, 12 Nov 2014

By Tina Morrison Nov. 13 (BusinessDesk) - The New Zealand dollar jumped to a four-week high against the British pound after the Bank of England cut its growth and inflation forecasts and signalled interest rates aren't likely to rise anytime soon. The kiwi touched 49.96 British pence, and was trading at 49.84 pence at 8am in Wellington, from 49.14 pence at 5pm yesterday. The local currency gained to 78.68 US cents from 78.19 cents yesterday. Sterling fell after the BoE noted in its quarterly inflation report that inflation could fall b...

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