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Pound Slides After BOE Holds Rates: Warns Q4 Economy "Slightly Softer", Sees "Gradual And Limited" Rate Hikes
As previewed moments ago, the BOE decision was rather unexciting, and after its November rate hike - the first in a decade - which many speculated could be a "one and done", the Bank of England unanimously kept rates unchanged at 0.50% as expected. The lack of dissenters meant this was the first time the nine policy makers have been in agreement since February. The committee also left the BOE's QE unchanged. Here are the highlights from the press release, which suggested that 4Q economic indicators were softer than expected and that inflation "may be close to its peak", and concluding that "any future ... (full story)
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