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City reels from pound spiral as Kwarteng’s credibility in doubt: ‘The onslaught will continue’
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fnlondon.comThe City continues to reel from volatile trading in the pound, as new chancellor Kwasi Kwarteng reportedly seeks to reassure bankers while the Bank of England intervenes in bond markets.
The fallout from the government's mini-budget, which slashed taxes and added to Britain's debt pile, whipsawed markets this week. UK government bonds posted a surge not seen in four decades, while sterling remains down some 20% against the dollar since the start of the year.
Kwarteng...
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