June 28, 2018 / 2:56 PM / 5 months ago

Sterling rises off eight-month low as BoE's Haldane says rate hike vote not a surprise

File Photo: Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company's headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger

LONDON (Reuters) - Sterling rose on Thursday off eight-month lows against the dollar to trade flat after the Bank of England’s chief economist said his vote to raise interest rates should not be considered surprising after a decade of ultra-loose monetary policy.

Earlier this month, investors were taken aback when Andy Haldane joined a minority of officials calling for an immediate rise in rates, boosting chances of a hike in August.

The pound which had earlier fallen as low as $1.3050 amid Brexit concerns, rose to $1.3105 after Haldane spoke.

Reporting by Tom Finn; editing by Sujata Rao

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