-
Sterling soars, shares fall as Bank of England keeps rates unchanged
Sterling surged to two-week highs against the dollar and euro on Thursday while British share prices turned negative, after the Bank of England kept interest rates unchanged, wrong-footing the many investors who had expected a cut. The Bank said it was likely to deliver stimulus in three weeks' time, possibly as a "package of measures", once it has assessed how Britain's June 23 vote to leave the European Union has affected the economy. Sterling soared to $1.3480, up more than 2 percent on the day and its strongest since June 30, after the policy decision, having traded at $1.3210 immediately before. But it then pared ... (full story)