UK’s GDP report for Q1 wasn’t that good, but it wasn’t a total debacle either, reversing the previous quarter’s shock contraction.
The pound is soaring on the news.
And it makes sense. If the economy is growing (at all) the BOE can start to worry about inflation again, and join his EU counterpart Jean-Claude Trichet in beginning the rate hiking cycle.
Now only Bernanke is still left…