Emergency action by Bank of England amid UK financial turmoil

Because the business storm clouds over the UK darkened further serene, the Bank of England as of late staged a dramatic intervention – asserting it would launch procuring for up govt debt so to stabilise markets and defend pension funds.

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The surging price of borrowing, sparked final week by the Chancellor’s tax-reducing plans, had earlier drawn a stinging rebuke from the IMF – however the government says it’s sticking to its weapons, though departments will be requested to title ‘spending efficiencies’.

Labour says parliament must be recalled so the top minister is held to yarn over the disaster.

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