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Here’s why the Bank of England had to act
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The recent chaotic swings in the British pound and in UK government bonds mean traders are at panic stations, forcing the Bank of England to step in to calm things down.
The spectacular drops within the past week were sparked by Prime Minister Liz Truss’s dramatic policy decision to borrow billions to cut taxes in the hopes of supercharging economic growth. But markets judged that the plan doesn’t have much chance of success.
Bank...
Read more on fnlondon.comAbout this in other media
Bank of England Further Expands Bond-Market Rescue to Restore U.K.’s Financial Stability wsj.com /1 year ago
Bond-buying programme will end on Friday, insists Bank of England theguardian.com /1 year ago
Bank of England may be prepared to extend bond purchases past 14 October end date fnlondon.com /1 year ago
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