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Chapter 9

Q. 9.ST.4

An analyst has stated that the British pound seems to increase in value over the 2 weeks following announcements by the Bank of England (the British central bank) that it will raise interest rates. If this statement is true, what are the inferences regarding weak-form or semistrong-form efficiency?

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Semistrong-form efficiency would be refuted since the currency values do not adjust immediately to useful public information.