India, Oct. 21 -- The British pound strengthened slightly against other major currencies in the European session on Wednesday, as the U.K. consumer price inflation rose to a one-year high in September on motor fuel prices, fueled expectations on the Bank of England (BoE) rate hike.
At its upcoming meeting on November 5, the BoE is projected to raise borrowing costs for the first time since 2023. Markets are now projecting three more rate increases over the course of the upcoming year.
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