Interest Rates Could Stay Low till 2013
A top economist predicted that UK’s interest rates could remain at historically low levels for several years as the Bank of England gave its strongest hint yet that it would expand its policy of pumping money into the economy.
The pound fell sharply as news reached the City. Sterling lost a cent against the euro, falling from €1.172 to €1.162. It also lost two cents against the dollar at one point, down to less than $1.64, before recovering back to $1.65.
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