Pound slides as Bank of England holds interest rates

Pound slides as Bank of England holds interest rates

Sterling fell close to $1.33 against the US dollar, taking losses since last weekend to nearly 1.4 per cent, the biggest decline since it tumbled 2.3 per cent over five days of trading four months ago.

Bank of England Holds Rate at 3.75% as Inflation Rises

The Bank of England has kept its key interest rate at 3.75 per cent, while warning that rising energy prices could keep inflation elevated and force policymakers to take a more cautious approach to future rate decisions. The decision comes as households and businesses across the UK continue to face higher costs, with the central bank warning that inflation could rise above 4 per cent in early 2027 if energy prices remain high. The Bank’s latest …