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Chancellor Philip Hammond presented his first and last Spring Budget against a backdrop of economic resilience since the Brexit referendum last summer. It came amid heightened uncertainty as the government prepares to invoke Article 50 to leave the EU.

Read our summary of the Budget announcements here

Key points

 

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The Bank of England has left interest rates on hold and kept its bond-buying programme unchanged. It has increased growth forecast for the next three years and said it will continue to tolerate higher inflation.

Key points

  • Bank holds rate at 0.25%
  • Government bond buying target remains at £435bn plus £10bn of corporate bonds
  • Sterling weakens against dollar as markets rule out chance of near-term rate rise

By Gavin Jackson and Elaine Moore