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BoE raises interest rates to stem massive looming inflation
Markets sentiment is that leaving UK base rates unchanged is more destructive to the £ than a tsunami.
Sterling is down over 1% against the Yen today. Japan, which has and continues to suffer its biggest earthquake in recorded history and the 7th biggest in history globally, and which will presumably cost untold trillions of Yen to the economy, is on firmer ground than the UK.
Unless most of the insurance is done by London....
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