Mini Budget aka Fiscal Statement

[Protagoras]

Bank of England to carry out temporary purchases of long-dated UK government bonds from today

The Bank of England has announced it will carry out temporary purchases of long-dated UK government bonds from today as it warned there could be a "material risk to UK financial stability"

This gets better by the hour.

Okay, so where exactly does the BoE get the money from to purchase the Govt bonds?

From the Statement "To enable the Bank to conduct this financial stability intervention, this operation has been fully indemnified by HM Treasury."

Only last month the BoE was reported expected to be selling c.£40bn bonds to start unwinding QE. So we are now looking at yet more QE, at least in the short term...

[DealorNoDeal]

Ah, now it all makes sense...

https://www.indy100.com/news/imf-left-wing-uk-economy

The IMF are a bunch of lefties. City bankers and investors are remainers and lefties. The pound is only crashing because the markets fear a Labour Government.

[dsc]

Here's me assuming this sh*tshow is going to be hard to blame on someone, but...looks like I've underestimated this new government

[DoctorStrangelove]

'Tis the Triumph of the NeTurds.

[SueEllen]

Rish! is not attending the Tory party conference next week when Truss et al have to come out of hiding

[AtW]

GBP is a reserve currency. The IMF lend money. A reserve currency nosediving is a VERY bad thing for the world economy.

The IMF is not alone in believing that the UK economy is being run like an emerging economy, or shall we say banana republic.

They seem to be ok with Japan doing their best to drop value of yen (it’s as “reserve” as sterling) … for decades now!

[SueEllen]

They seem to be ok with Japan doing their best to drop value of yen (it’s as “reserve” as sterling) … for decades now!

We aren't Japan and don't act like the Japanese.

[_V_]

The title Chancellor of the Exchequer has been officially renamed to Chancer of the Exchequer a BoE spokesperson has just announced.

[AtW]

Did IMF whine when UK income tax was cut from 60 to 40%?

[AtW]

“Moody's threatens to downgrade UK credit rating after tax cuts

Borrowing costs would increase if the agency slashed the UK's ratings as White House adviser criticises Truss's tax cuts”

https://www.telegraph.co.uk/business...asi-kwartengs/