News · 23 April 2026
Pound Down, Costs Up and a Rate Hike Now More Likely Than Not
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The pound slipped against the dollar Thursday as US safe-haven demand grew and UK energy costs rose due to the Iran war. British companies reported a record increase in costs in April, pushing traders to price in a 75% chance of a Bank of England rate hike by June, raising fears of higher prices and borrowing costs ahead.
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