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LONDON, Sept 5: The British economy appears to have sprung to life in the last few weeks but financial markets are probably getting ahead of themselves in pricing in a rise in borrowing costs this year.
Only two months ago the Bank of England cut interest rates to a 48-year low of 3.5 per cent as economists fretted about the global economy and British consumers reining in their free-spending ways.
They couldn’t have been more wrong.—Reuters
