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Bank of England's Carney wrong-foots investors again
Bank of England Governor Mark Carney is gaining a reputation for upsetting the financial markets. Coming from a policymaker who championed predictability when he arrived in London a year ago, his apparently alternating signals on interest rates have left many investors perplexed. In June, he made sterling leap by warning investors that they were not sufficiently pricing in the chance of an early increase in Britain's record-low benchmark interest rates. Two months on, Carney has sent the pound tumbling towards its biggest daily fall in six months by seemingly pushing back the prospect of a rate hike this year. ... (full story)
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