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The British Pound weakened against almost every single G10 currency on Thursday after the Monetary Policy Committee surprised investors with two dissenters calling for rate cuts.Although the Bank of England’s decision to leave monetary policy unchanged in November was widely expected, the gloomier growth outlook fuelled speculation over a possible rate cut next year. Given how the central bank expects the United Kingdom to grow by 1% less over the next three years, the British Pound could be instore for further pain. While the prospects of lower interest rates in the UK should also... Read More
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