Market News
Sterling falls after BoE keeps interest rates on hold - REUTERS
LONDON, March 21 (Reuters) - Sterling fell on Thursday after the Bank of England kept interest rates unchanged and Governor Andrew Bailey said Britain's economy is "moving in the right direction" for the central bank to start cutting interest rates.
As widely expected, the BoE kept its benchmark rate at 5.25%, its highest level since 2008, a day after data showed inflation fell to its lowest in almost two-and-a-half years but stayed too high for comfort. Sterling fell 0.4% against the dollar to $1.2738.
Against the euro, it fell 0.3% to 85.66 pence .
Reporting by Joice Alves, editing by Amanda Cooper
