Sterling’s glass half full
CURRENCY FORECASTS
Jeremy Stretch, senior market strategist at the Dutch Bank in London, said the bank had not anticipated the kind of monetary loosening implied in the market over recent months. He added that the bank had not expected the Monetary Policy Committee (MPC) to cut rates purely to boost spending.
"Although activity in the economy has clearly slowed from the heady pace of consumer-led spending registered in the middle of 2004, the economy has proved relatively resilient," he said.
In fact, in the bank
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