Charles Purdy
on September 29th, 2022 Sterling is still weaker overall against both currencies in the aftermath of the chancellor’s mini-budget announcement last Friday. Kwarteng’s tax cuts triggered the pound to fall to unexpected lows, while causing turbulence throughout Britain’s financial markets.
Since mortgage providers have now paused services due to pound’s crisis, the BoE has also taken emergency action with a pause on pension funds.
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