Governor of the Bank of England, Mark Carney, has said that an increase in interest rates is "likely to become necessary", despite voting to hold Bank Rate at the latest MPC meeting, stating that now is "not yet the time".
Cunliffe came to the support of the governor, Mark Carney, in saying that it was not yet time to raise interest rates - setting the scene for one of the most closely fought decisions of the Bank's monetary policy committee when it meets early next month.
He said a change would depend on whether company investment could offset a slowdown in consumer spending. He did not repeat that phrase on Wednesday, and markets immediately priced in a greater chance of an earlier-than-expected rise.
Syrian Observatory: dozens killed in air strike in Islamic State-held town
It says the building belonged to an al Qaida-linked commander before it was seized by the Daesh group in 2014. Russian Federation and Syria have previously carried out airstrikes against the Islamic State in that region.
The jump in the pound comes a day after European Central Bank head Mario Draghi sent the euro higher by indicating the ECB could slowly withdraw some of its monetary stimulus measures as the economy improves. Traders said fewer buyers signed contracts to buy existing homes in May, likely because they can't find or afford what they want. Alastair McKee, managing director of independent mortgage broker, One 77 Mortgages, said: "People are increasingly feeling the financial squeeze and they are also anxious that rising inflation could force the Bank of England's hand on interest rates". Those purchases are slated to run at least through year end, when they will total 2.2 trillion euros.
According to the Bank of England (BoE), the number of loans approved by banks and building societies edged slightly higher from April's 65,051 to 65,202 last month, ahead of forecasts for a reading in the 64,000 region.
Monthly pivots are key levels where traders often fade the trend, putting pressure on the exchange rate. "[It is] the closest the country has been to a rate hike since the days of the financial crisis", he added.
Nicola Sturgeon shelves second independence referendum
In the general election earlier this month, Ms Sturgeon's Scottish National Party lost 21 of its 56 seats, falling to 35 per cent. For now, Sturgeon restated her plea for May to allow Scottish ministers to join the negotiations between London and Brussels.
But others on the MPC have been more outspoken on the need for an interest rate rise.
The Bank of England has told banks to set aside an extra £11.4 billion to protect the economy from a financial crash as auto finance and credit card debt lending continues to "increases rapidly". This would, at the very least, ensure the Pound does not plump new depths, something that could raise inflation rates further.
If Fed interest rate hike bets aren't improved by US data or comments from officials in the coming weeks, the long-term US Dollar outlook will worsen and GBP USD could continue to rise.
Google to stop scanning email content for targeted adverts in Gmail
More than 1.2 billion people use Gmail and soon users of the free account will have the option to switch off ads personalisation. The move effectively brings the widely-used email service in line with its enterprise offering, G Suite.
Commerzbank's technical analyst Karen Jones, was cautious, seeing the, "the previous range 1.2775 - 1.3060 should now act as a formidable nearby resistance". Today the move is more significant and directly related to the UK.