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Rolling coverage of the latest economic and financial news
Sterling drops after Bank of England boss hints at ‘aggressive’ rate cutsCarmakers ramp up pressure on chancellor for EV sales subsidies
The pound jumped as traders reacted to Huw Pill’s call for a cautious approach to interest rate cuts.
It rallied as high as $1.3164, up from $1.312 last night,before settling back at $1.315
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