Sterling swings as BoE confirms end of market support

  • 📰 eNCA
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

The pound swung between gains and losses Wednesday after the Bank of England confirmed it will end its support for financial markets at the end of the week.

HONG KONG - The pound swung between gains and losses on Wednesday after the Bank of England confirmed it will end its support for financial markets at the end of the week.

Asian stocks and the pound started the day under pressure after the UK central bank on Tuesday warned markets it would end to a near two-week programme of support aimed at quelling volatility sparked by the government's debt-fuelled tax-cutting mini-budget. However, the mood changed again as the European day began after BoE officials said the Friday deadline remained.Equities in Asia also saw big moves, with markets ending mixed.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 49. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

IMF warns inflation fight, geopolitical events driving up financial stability risks - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The International Monetary Fund warned on a disorderly reprising in markets, saying global financial stability risks have increased, raising the risks of contagion and spill overs of stress between markets. Oh my .. Not blaming Russia, this time? IMF 👿💰 .. NWØ Câbâl Buddies!
Source: SABCNews - 🏆 37. / 51 Read more »