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Sterling slides to 17-month low as 2015 rate hike looks remoteLONDON (Reuters): Sterling got off to a sorry start to the year on Friday, sliding under $1.54 to a 17-month trough as weak manufacturing data bolstered bets that the Bank of England will not raise interest rates until 2016. The pound fell as low as $1.5369, its weakest since early August 2013, leaving it down 1.4 percent on the day, its steepest fall in four months. The monthly survey of UK purchasing managers (PMI) showed the manufacturing sector expanded at a much slower pace than expected in December. Other data showed lending to British consumers surged at the fastest rate in almost a decade in the three months to November. Taken together, the figures suggested Britain’s upturn, one of the strongest among advanced economies in 2014, will remain biased towards consumption rather than other sources of growth such as investment and exports. |
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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.