Pound hits record low after tax cut plans
Sterling sinks close to $1.03 as global markets react to the UK’s biggest tax cuts in 50 years. …
“To stop the bleeding even temporarily, the Bank of England may well enter ‘whatever it takes’ territory to bring inflation down. An emergency meeting rate hike could happen as soon as this week to regain credibility in the market. We could even see a hike today,” said Stephen Innes, managing partner at SPI Asset Management.
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