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Hard pounding

5 December 2002 By Hugo Dixon, Hugo Dixon

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Hard pounding

5 December 2002 By Hugo Dixon, Hugo Dixon, Hugo Dixon, Hugo Dixon, Hugo Dixon, Hugo Dixon, Hugo Dixon

The Fed and now the ECB are cutting rates. But the BoE is staying put. Add in relatively strong UK growth and the pound will stay strong. The combination of strong pound and highish rates spells continued misery for the UK’s internationally exposed manufacturers.

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