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BBCNEWS BBC News July 7, 2024

russia after the kremlin held unofficial referendums. referendums. the bank of england has stepped in to prop up the government bond market after uk interest rates soared and gilts tumbled following the government s mini budget. the bank warned the market s reaction to the government s measures now represented a material risk to uk financial stability. it says the market for gilts, in which the british government borrows, has become dysfunctional and threatens the finances of uk households and businesses. investors fear the big market moves are a particular threat to the uk s pension funds and threaten spill over damage across the financial sector. here s our economics editor, andy verity. ever since last friday, the bank of englands governor andrew bailey has been trying to resist taking emergency measures following kwasi kwarteng s huge tax cuts to be funded by borrowing. but now the cost of borrowing on financial markets has forced him to. in an emergency statement, the ba ....

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BBCNEWS BBC News June 4, 2024 14:05:00

More money to spend and that will stimulate the economy to grow and improve living standards. but the imf is warning it could have the opposite effect because the pound is weak, import prices are higher, and that pushes up inflation and, to fight inflation, interest rates have to rise faster than previously thought and that could hit ordinary people where it hurts in their mortgage payments. so far, the bank of england s announcement hasn t worked to calm financial markets. the index of uk listed companies is tumbling down 2% and traders are again selling the pound, now worth less than $1.06. andrew verity, bbc news. the warning from the the warning from the imf the warning from the imf about the warning from the imf about the the warning from the imf about the mini budget under nines international fears that a financial turmoil could spread. 0vernight, the us treasury secretary janet yellen expressed american concern over the british government s measures, and ....

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