Economic news

Pound slides as BoE keeps rates unchanged

The pound was virtually flat after climbing versus the euro on Thursday, with some investors disappointed the Bank of England would not accelerate its rate hike steps.

The British currency slumped to as low as $1.3412 after the BoE decision, before rising to $1.3436, still up 0.1 percent on the day. Versus the euro, sterling traded at 88.10 pence.

BoE officials voted unanimously to hold interest rates at 0.5 percent, as broadly expected.

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