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Pound jumps on Bank of England Governor's rate rise hint

Pound jumps on Bank of England Governor's rate rise hint

Business
The pound jumped nearly 1% after the governor of the Bank of England suggested that interest rates could rise if business investment grows.Sterling rose to $ 1.2936 against the dollar after Mark Carney said that "some removal of monetary stimulus is likely to become necessary".He said a change would depend on whether company investment could offset a slowdown in consumer spending. Mr Carney said it was an issue the Bank "will debate in the coming months".Pound Sterling - United States DollarLast week, at the delayed Mansion House gathering in London, Mr Carney said that "now is not yet the time to begin" raising interest rates which remain at a record low of 0.25%.However, shortly afterwards, Bank of England chief economist Andy Haldane said he might vote for a rate rise before the end of ...