The pound slumped against its major counterparts in the European session on Thursday, after the Bank of England raised its key rate for the fourth consecutive meeting, but warned of a contraction in the economy next year amid cost pressures.
Policymakers led by Governor Andrew Bailey decided to raise the key interest rate, the bank rate, to 1.00 percent from 0.75 percent.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com