Sterling falls after Bank of England decision

Sterling fell to its lowest point of the day after the Bank of England’s interest rate increase, leaving the currency down 0.3 per cent at $1.2108 against the dollar. It declined 0.5 per cent against the euro to €1.189. Line chart of € per £ showing Sterling slips after BoE decision

Long-term UK government bond yields, which are sensitive to economic growth expectations, also fell after the Bank forecast a protracted recession. The 10-year gilt yield was down 0.04 percentage points at 1.87 per cent in Thursday afternoon trading.

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