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Could the Bank of England beat the Fed to the punch?
The notion that the Federal Reserve would be the first major central bank to raise its benchmark interest rate was once viewed as a virtual certainty. But a recent shift toward more-hawkish rhetoric by policy makers from the Bank of England has caused some market strategists to rethink this view. “The hawkish sentiment that’s coming from the Bank of England is a lot louder than what’s coming from the Fed,” said Doug Borthwick, head of foreign exchange at Chapdelaine & Co. Minutes from the Bank of England’s July policy meeting implied that at least three policy makers were close to voting for an ... (full story)
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