Pound Drops, Bank of England May Raise Rates

Malcolm Hudson
By Malcolm Hudson
September 26, 2022UK
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The pound has plunged to an all-time low against the U.S. dollar after the chancellor’s recently unveiled tax cuts shook confidence in the UK market. Experts have warned the drop in the pound’s value will send the cost of goods soaring yet higher, while government borrowing will become more expensive.

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