“For now the Bank of England has bigger worries than inflationary pressure. And the markets quickly concluded that Britain’s rate-setters will continue to keep their inflationary mandate firmly in the drawer, and focus instead on the UK’s shrinking economy and the rising danger of recession,” says Sam Fuller, Director of Financial Markets Online . “The chances of an interest rate rise in the UK remain negligible. As a result the Pound is set to continue its limp progress – little moved by economic data and instead a hostage to political events.”
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