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Factory Output Figures Are Good

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Factory output data lifts sterling off 1-mth low

By Katie Hunt

LONDON, March 9 (Reuters) - Sterling moved off a one-month low against the euro on Thursday after upbeat British factory output data, but showed little reaction to the Bank of England's decision to leave interest rates unchanged.

The BoE kept rates at 4.5 percent for the seventh month running, a decision widely expected by financial markets.

The pound erased early losses against the euro after the data showing British industrial output rose more than expected and for the third month running, marking the longest period of expansion in nearly four years.

"The manufacturing numbers were OK, with an upward revision to the previous month but it's still soft stuff. Rate expectations are going to be driven by news about the consumer," said Ian Gunner, head of foreign exchange research at Mellon Bank.


Edited by karhu

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  • 317 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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