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Published 1 year ago

British pound plunges to new low as tax cuts spark concern

Summary by Ground News
The pound falls to its lowest level since the decimalization of the currency in 1971. The weakening currency piles pressure on the U.K.'s new Conservative government. Many economists say it's more likely to fuel already high inflation, push down the pound. The Bank of England said it is monitoring the drop in the pound and would not hesitate to boost interest rates.

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