Sterling slides as BoE points to mid-2016 rate hike; Inflation 'to return to target' in 2017

Natalie Kenway
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Sterling has fallen after the Bank of England downgraded its growth forecasts for the UK economy while indicating it could start to raise interest rates in mid-2016.

In its latest quarterly Inflation Report, the central bank cut its projection for UK GDP growth for 2015 to 2.5%, from 2.9% in February. Governor Mark Carney (pictured) said although UK growth h...

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