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28/09 - Based on the mini budget, there has been market reaction as well as Bank of England intervention
- The Bank of England announces it will step in to calm markets after the government's tax-cutting plans causes the pound to slide
- The pound has slid to circa $1.06 on 28th September (and went to a low of $1.03 on 26th September)
- The Bank said it would buy government bonds on a temporary basis to help "restore orderly market conditions"
- The IMF says the £45bn proposal is risky and will "likely increase inequality"
- Various lenders have suspended mortgage deals after a fall in the pound fuelled forecasts of rising interest rates.
New Chancellor Kwasi Kwarteng will deliver a mini budget on Friday 23 September around 9:30am, with a number of tax changes expected to help individuals and businesses cope with cost of livi…