A shift in the Bank of England (BoE)’s focus from inflation to a darkening economic outlook became the latest reason to sell the pound. The UK currency fell almost 3% versus the US dollar last week, its worst performance since late September and the biggest drop among major currencies globally. After sinking the most in a month on Thursday, sterling looks set for another dip towards parity, with banks including Mitsubishi UFJ Financial Group Inc, Bank of America Corp and Cooperatieve Rabobank UA predicting a fall below $1.10 by the end of the year. The Bank of England’s struggle to get ahead of inflation has been a key driver of pound weakness all year and the latest selloff clips the pound
Hence then, the article about more pound pain coming as central bank shifts to recession from inflation was published today ( ) and is available onGulf Times ( Qatar ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
Read More Details Finally We wish PressBee provided you with enough information of ( More pound pain coming as central bank shifts to recession from inflation )