Sterling stumbles to 18-month low as UK risks weigh

By Jemima Kelly

Sterling fell for the fifth straight day on Thursday, hitting its weakest in 1-1/2 years, as it suffered from a mix of broad dollar strength, weaker UK growth prospects and political uncertainty.

As expected, the Bank of England kept its benchmark interest rate at its all-time low of 0.5 percent, where it has remained since 2009. The BoE is now expected to keep it there until next year — a stark change from six months ago, when many were betting on a rise before the end of 2014.

The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.