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Sterling jumped and stocks hit session lows Thursday after the Bank of England said interest rates probably needed to rise sooner and by a bit more than it thought three months ago, with investors now betting on a hike as soon as June. Against the dollar, the pound rose as much as 0.9 percent to hit a day's high of $1.4015 after trading flat before the BoE announcement, in which the bank also voted to keep rates unchanged. Against the euro, sterling rallied more than 1 percent to hit a one-week high of 87.41 pence.Interest rate futures now show a 60 percent chance of a BoE rate hike in June, and it is fully priced in for the August meeting, according to interest rate futures markets.
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