Published by Jamie JemmesonSterling has slid against the dollar and the euro in recent trading as forex dealers remain unclear on whether - and when - interest rates will be pushed up.Britain's CPI inflation rate rose to 3.7 per cent last month, prompting some to suggest that the Bank of England could push up the base rate of interest sooner than had originally been predicted.Mixed messages appear to be coming from Monetary Policy Committee members. Reuters reports that Adam Posen on Friday said his underlying view on inflation is the same and noted the downside risks to prices. Meanwhile, fellow MPC member Andrew Sentance said in a speech yesterday that action now needs to be taken to stifle inflation.Speaking to the European Policy Forum in London, Mr Sentance said: "If we do not start to raise UK interest rates gradually soon, we risk having to do so more aggressively in the future."He added that more aggressive manoeuvres later on could cause more of a shock to both business and consumer confidence.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site