Pound resumes slide after BoE and Treasury seek to steady markets

The Bank of England and UK Treasury on Monday battled to calm market turmoil after the pound hit a record low against the US dollar, but sterling suffered a fresh round of heavy selling as investors fretted over the sustainability of public finances.

On a day when

hit an early-morning low of $1.035, the BoE issued a statement saying it would “not hesitate to change interest rates” to keep inflation under control.

But its…