Emergency action by Bank of England amid UK economic turmoil
Kwasi Kwarteng WON’T rethink tax-cutting Budget: Ministers deny blame for ‘global’ market chaos after Bank of England is forced to launch £60billion government debt buy-up to stop soaring interest rates causing ‘mass’ collapse of pension funds Bank of England has stepped in to buy long-term government debt to stop ‘material risk’ of financial chaos The BoE will buy gilts for the next two weeks after interest rates soared in the wake of the Emergency Budget IMF has criticised the package,…
