Small base rate cut strengthens sterling

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Small base rate cut strengthens sterling

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01-12-2009, 09:01 PM

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Small base rate cut strengthens sterling

Last week’s cut to the base rate of interest has rallied the strength of the pound against key currencies.The Bank of England cut rates by 0.5% to 1.5%, the lowest for over 300 years, but not as drastic a cut as some analysts had anticipated.As a result, the pound strengthened against the US dollar and [...]

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