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We ll have a special report we start with the uk economy, because the pound has jumped to its highest level against the us dollar since before liz truss became prime minister back in august. sterling has been trading at $1.21 to the dollar a hugejump from the record low of $1.03 it hit in the aftermath of that disastrous budget statement in late september. it is still around 12% lower than it was at the start of the year, but some are predicting the worst could be over for the pound. let s talk to gervais williams from the fund managers premier miton here in london. ....
Boosting supply to the economy. tension could arise if they are not quite as optimistic as the government, if they don t believe that it will bring as much growth, they are not going to build it into their forecast and it could lead to their forecast and it could lead to the government having to make big decisions elsewhere to make the finance numbers add up. it’s decisions elsewhere to make the finance numbers add up. it s easy to anic finance numbers add up. it s easy to panic when finance numbers add up. it s easy to panic when something finance numbers add up. it s easy to panic when something dramatic i panic when something dramatic happens and what we have seen is dramatic, particularly with the pound pointed at low of $1.03, but it s now back up to where it was before the mini budget, $1.12 stop how much should we read into the markets? we how much should we read into the markets? ~ :, ~ , :, markets? we talk indeed terms about the markets. markets? we talk indeed terms ....
People are understandably worried about the cost of their mortgage, and the wired cost of living. our economics editor has the latest. friday morning the chancellor kwasi kwarteng unveiled his mini budget big tax cuts funded by a big increase in government borrowing. the ups and downs of the pound in your pocket have been quite something, there was an immediate reaction, in financial markets as the pound sank and uk stocks fell and then on monday morning, the pound continued to sing, hitting a new low against the dollar worth just 1.03. the treasury and the bank of england released statement to try to calm the market, the bank saying it wouldn t hesitate to change interest rate, the treasury said it would publish a plan to tackle debt. mortgage rates began to rise yesterday as offers were withdrawn, a extraordinary interhaven t sloan ....
The market roller coaster does not stop. on friday morning, the chancellor kwasi kwarteng unveiled his mini budget, big tax cuts funded by a big increase in government borrowing. the ups and downs of the pound in your pocket have been quite something. there was an immediate reaction in financial markets as the pound sank and uk stocks fell, and then on monday morning, the pound continued to sink, hitting a new low against the dollar worth just 1.03. the treasury and the bank of england released statement to try to calm the market, the bank saying it wouldn t hesitate to change interest rate, the treasury said it would publish a plan to tackle debt. mortgage rates began to rise yesterday as offers were withdrawn, a extraordinary intervention from the international money fund. today, the bank of england made an unprecedented intervention to buy government bonds. ....
On any action in november. with the economic fallout far from over, it s shaping up to be a difficult winter for british families and businesses. vincent mcaviney, bbc news. well, let s go now to ben, who is at the bank of england for us this morning. in the building behind you, some important decisions being discussed. yes, some important decisions that will affect all of us, wherever we are in the uk. around this time yesterday, we saw a big fall in the value of the pound against the dollar, it hit a record low of about $1.03, it has since recovered, it is currently at about $1.08 to every pound. but even so, there has been a sharp fall in the value of the pound since friday, when the chancellor announced big tax cuts to boost the economy funded by increased borrowing. that spooked investors, their confidence in the uk fell and ....