Bank of England takes urgent steps to buy long-dated UK government bonds
- Business live updates: pound tumbles despite Bank move
The Bank of England has taken emergency action to calm turmoil in financial markets amid the collapse in the pound and the increase in government borrowing costs triggered by Kwasi Kwarteng’s mini-budget.
Threadneedle Street said it was taking urgent steps to buy long-dated UK government bonds, beginning immediately in an attempt to stabilise the market.
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