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Credit crunch sends pound plunging
Credit crunch sends pound plunging
Last Modified: 03 Jan 2008
By:
Faisal Islam
A report showing a drop in consumer borrowing sends the pound plunging against the euro.
A report from the Bank of England has shown a sharp and unexpected drop in the amount of money big lenders are making available to consumers.
City dealers reckon that will mean more interest rate cuts, which sent the pound plunging to an all-time low against the euro.
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