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The Independent UK
The Independent UK
National
Jane Dalton

Pound falls after Bank of England hikes interest rates

Bank of England Recession
EPA

The pound has dropped following the Bank of England’s aggressive 0.75 percentage-point rate rise and warnings of a recession that could last for two years.

Sterling fell 1.4 per cent to 1.123 against the US dollar, and was 0.8 per cent lower against the euro at 1.15.

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