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  • Writer's pictureRCS Ottawa

UPDATE 2-Sterling climbs as traders eye Bank of England meeting

LONDON, Dec 13 (Reuters) - Sterling edged higher on Wednesday ahead of the next day’s Bank of England policy meeting, which will be closely watched for clues on the future path of UK monetary policy.

While the BoE is widely expected to keep interest rates on hold at 0.5 percent on Thursday, after raising rates for the first time since 2007 last month, there are questions over whether rates will be hiked again next year - and if so, at what pace.

The Bank said in November that inflation was near its peak and would then fall slowly over the next three years to just above 2 percent. It also said a long-awaited pick-up in wage growth was likely next year. Full Story

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