Emergency action by Bank of England amid UK economic turmoil

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Channel 4 News

Channel 4 News

2 ай бұрын

As the economic storm clouds over the UK darkened further still, the Bank of England today staged a dramatic intervention - saying it will start buying up government debt in an effort to stabilise markets and protect pension funds.
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The surging cost of borrowing, sparked last week by the Chancellor's tax-cutting plans, had earlier drawn a stinging rebuke from the IMF - but the government says it's sticking to its guns, although departments will be asked to identify 'spending efficiencies'.
Labour says parliament should be recalled so the prime minister is held to account over the crisis.
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Пікірлер: 3 143
Marco Polo
Marco Polo
Courage taught me: that no matter how bad a crisis gets, any sound investment will eventually pay off.
Daniel Bradford
Daniel Bradford
JOHNSON: No Prime Minister could possibly be more disastrous and incompetent than me.
Radec
Radec
How this country held dominion over the world is hard to imagine.
o'neil jerry
o'neil jerry
Times have changed and now stock market is all about pump and dump leaving retailers as bag holders. Bag holders turned to long term investors will still bag hold and stock might go to zero. There is too much news, too many analysts, too many factors, too many firms, insiders influencing the stock price. Retailer money is being sucked. With inflation currently at about 10%, my primary concern is how to grow my reserve of $300k which has been sitting duck since forever with zero to no gains.
hoogmonster
hoogmonster
The contempt these venal, self possessed ideologues have for real life in real Britain is frankly frightening. That the Bank of England is now at loggerheads with the government and is trying it's best to ameliorate Truss and Kwarteng's absurd mini budget is also strikingly confirming of the fact that this government hasn't just lost the plot, they've never been in possession of it at all.
Hoshi Fuyo
Hoshi Fuyo
This is an amazing video and i enjoyed every bit of it. And i'm also excited to share my investment experience so far this year. I believe it will help a lot of people here who are confused on how to startup theirs and be productive for the year.
soviet9366
soviet9366
In what other job can you wipe out half a trillion pounds in a weekend and still be in post on Monday, flatly refusing to admit anything happened? These people take us for fools
Jujutrini
Jujutrini
I remember when David Cameron and George Osborne won the election and saying to colleagues they are the worst PM and Chancellor of my lifetime. I felt vindicated by the end of their run in power. Then May and Johnson came along and showed how much worse things could be! Then I made the mistake of thinking no one could be worse than Johnson at running the country! Now I know that as far as the Tories are concerned there are no depths.
Mike Thornton
Mike Thornton
Rishi Sunak not attending the Conservative party conference to let Liz Truss “have her moment” is a textbook piece of British passive aggressiveness
Matthew Vinson
Matthew Vinson
With inflation currently at about 10% coupled with bad energy policy, bad foreign policy, bad regulatory policy , and insane fiscal policy. My primary concern is how to grow my reserve of £300k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings lying waste to inflation and my portfolio losing gains everyday, I need a remedy asap.
filrabat 1
filrabat 1
I know I'm not UK (I'm US), but it seems laws or regulations forcing the pension funds to hold a certain amount of cash beforehand prior to the actual act of investing would have at least softened the blow. This is particularly true if they plan to borrow from banks. Not that the US has better financial regulations to stop this kind of stuff (we still haven't learned from the 2008 Financial Crisis, apparently)
Robert Yangkwon KIM
Robert Yangkwon KIM
Since I watched all of Tory leadership hustings between Liz and Rishi, I already expected the current turbulence , because her commitment of tax cut was terribly sorry in the circumstance of current inflation stage. Tax cut causes borrowing by issuing treasury bonds and furthermore induces radical rise of market interest and loss of market confidence.
British Rose
British Rose
I didn't know "Putin's war" started on Friday just as the Chancellor started speaking.
Nath Crypto Enthusiast
Nath Crypto Enthusiast
Love it when a public servant can’t even be bothered to stop and answer a question. Just goes to show how arrogant and rude they are, an absolute disgrace to those they are supposed to be serving!
Andrew Jones Productions
Andrew Jones Productions
Just goes to show that Rishi Sunak actually knew what he was talking about (at least in comparison with Thicky Trussy). He does after all have experience in the finance world and likely spoke from a certain amount of that experience. That in turn shows us how stupid and disconnected the membership of the Conservative and Unionist Party are that they decided that a complete and utter idiot would be better in the role of Prime Minister.
James Scholes
James Scholes
I don't think most people realise how bad things are going to get. The fact is the entire global financial system is slowly collapsing and everything's only going to get worse. If you study history you'll know dying countries/governments/empires always print their way out of it but it NEVER ends well. My advice to you is not to store your wealth in pounds and stock up on essentials like food etc while they're still cheap.
Christian J
Christian J
Rishi: you can't borrow your way out of debt Liz that's not how money and finance works.
Orla OTO
Orla OTO
The Irish budget was a huge giveaway as well. Expanded health cover, childcare support, energy bill supports, business energy bill support, fodder support for farmers, extra welfare payments. They weren't taking any chances with a grumpy post covid society. Also, Sinn Fein are breathing down their necks.
Denis Daly
Denis Daly
Its very clear. The labour government of 2052 is the problem here.
Luna Skye
Luna Skye
All of this is like being in a car crash but in slow motion - The anxiety is much worse because of the delayed impact.
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