Pound Drops on Concern for U.K. Economic Recovery

The Great Britain pound slid today on the concerns for the risks for the economic recovery in the U.K., signaling about the pressing need to deal with the Britain’s significant budget deficit.
The Bank of England is expected to keep the interest rates at the record low level of 0.5, causing some economists say that the fiscal policy is extremely loose. The central bank forecast that the inflation will likely stay below the target 2 percent.
GBP/USD dropped today to 1.4896 as of 12:55 GMT after it opened at 1.4955. EUR/GBP reached 0.8507 after opening at 0.8465.

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