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U.K. Stocks Reverse Advance After BOE Refrains From Rate Cut

By Tony Seruga

U.K. stocks wiped out an earlier gain after the Bank of England refrained from cutting its benchmark rate, disappointing investors who had speculated on looser monetary policy after the Brexit vote.

Homebuilders reversed an advance after the BOE decision. Traders had priced in an 84 percent probability of lower rates. The central bank signaled it’s readying stimulus for August…

U.K. Stocks Reverse Advance After BOE Refrains From Rate Cut

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