Sterling fell to its lowest point of the day after the Bank of England’s interest rate increase, leaving the currency down 0.3 per cent at $1.2108 against the dollar. It declined 0.5 per cent against the euro to €1.189. Line chart of € per £ showing Sterling slips after BoE decision
Long-term UK government bond yields, which are sensitive to economic growth expectations, also fell after the Bank forecast a protracted recession. The 10-year gilt yield was down 0.04 percentage points at 1.87 per cent in Thursday afternoon trading.
