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Original headline: Interest rate hike firmly on table after inflation rises to 11 - month high
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interest ratesinflationGBPUSDpound sterling
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Related tickers and likely impact
GBP/USD
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/20/2026 | 1.33800 |
| Change that session | +0.57% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Interest rate hike firmly on table after inflation rises to 11 - month high
- Pound Benefits from a Hawkish BoE
- Sterling today: Pound rises as UK growth beats forecasts, dollar retreats
Sterling rose 0.51% against the dollar to 1.3259 and the euro gained 0.56% to 1.1216 on Thursday, as the dollar retreated on concerns over debt at AI-sector companies. UK GDP rose 0.1% in August, beating a consensus forecast of a 0.1% fall, with annual growth at 2.1%, the strongest since October 2022, and manufacturing jumped 1.2% on the month. Capital Economics said higher inflation may still dampen growth, while another analyst expected the Bank of England to raise its base rate to 4% within three weeks. The dollar index hit a 2026 high on Wednesday before reversing sharply, with ING attributing the move to worries over AI-sector debt, including a CoreWeave 2032 bond falling to 78 cents on the dollar.
- Pound gains against dollar , euro as inflation data cements future rate hike bets
The pound edged up against the dollar and euro after UK inflation came in hotter than expected, with CPI rising to 3.5% from 3.1% in August, above the 3.4% forecast by economists polled by Reuters. The reading cemented bets on a Bank of England rate hike next month, with traders nearly fully pricing in a 25-basis-point increase in November and four hikes expected by mid-next year. Sterling was last up 0.1% at $1.339 and rose 0.2% against the euro to its strongest in 17 months, while the euro weakened as France faces anti-government protests and a worsening fiscal outlook that has pushed its 10-year borrowing costs toward 24-year highs. Attention now turns to British finance minister John Healey’s first budget, due next week.
- What factors helped lift inflation in September – and where did prices fall?
- What factors helped lift inflation in September – and where did prices fall ?
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