2 years ago
22
ARTICLE AD BOX
Published
12 minutes ago
The Bank of England has said it will "not hesitate" to hike interest rates to curb inflation after the pound fell to a record low against the US dollar.
The Bank decided not to hold an emergency meeting to set new rates but said it would change them "by as much as needed" when it meets in November.
Sterling fell close to $1.03 early on Monday after Chancellor Kwasi Kwarteng said he planned further tax cuts.
It clawed back ground but fell back to $1.06 after the Bank's announcement.
English (US)