Rolling coverage of the latest economic and financial news
- Sterling drops after Bank of England boss hints at ‘aggressive’ rate cuts
- Carmakers ramp up pressure on chancellor for EV sales subsidies
The pound jumped as traders reacted to Huw Pill’s call for a cautious approach to interest rate cuts.
It rallied as high as $1.3164, up from $1.312 last night,before settling back at $1.315
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