The pound rose to a four-week high against the dollar as Bank of England policy makers start the second day of Governor Mervyn King’s final meeting amid speculation they will keep stimulus measures unchanged.
Official will maintain the central bank’s target for bond purchases at 375 billion pounds ($578 billion) when they announce their decision at 12 p.m. in London, according to all but one of 43 estimates in a Bloomberg survey of economists. The Monetary Policy Committee will also keep the main interest rate at a record-low 0.5 percent, a separate Bloomberg survey shows. King’s successor Mark Carney takes over on July 1.
The pound rose less than 0.1 percent to $1.5421 at 7:27 a.m. London time after climbing to $1.5424, the highest level since May 10. Sterling was little changed at 85.05 pence per euro, after touching 84.92 pence yesterday, the strongest since May 21.
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