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Tories Look to BOE to Step In to Halt Panic Over the Pound

  • Sterling’s slide greeted with horror by Conservative MPs
  • Kwarteng is privately reassuring investors, will meet Bailey
Bloomberg business news
The “misalignment” between the UK government and the Bank of England must be fixed, otherwise the gilts and pound crisis will continue, according to Martin Malone, chief economist at Alphabook. He made the comments on “BloombergDaybreak: Europe.”
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The Bank of England may need to step in with an emergency rate rise to calm market nerves about the government’s economic plans, Conservative lawmakers said after the pound tumbled to a record low against the dollar.