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The pound hammered, will it last?
After the market volatility in the first four days of last week generated by multiple central bank policy decisions, plus foreign exchange intervention by the Bank of Japan for the first time 1998, it was the turn of the UK to crank up the volatility dial on Friday. Whether or not the UK government announcement of the biggest tax reduction since 1972 – including removal of the top 45% rate of income tax down to 40%, large-scale fiscal support for households and business to protect them from sky-high energy prices and various reduction in ‘red tape’ – will in time yield a significant growth dividend is not ... (full story)
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