Published 2 years ago

Bank of England confirms it took action to stabilise pensions market after chancellor's tax-cutting mini-budget

Summary by Sky News UK

Soon after the Bank's intervention, Sky News' economics and data editor Ed Conway reported that the dramatic action had been taken in response to a "run dynamic" emerging in the British pensions system which could have resulted in the swift collapse of a swathe of institutions.

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The Guardian

Bank confirms pension funds almost collapsed amid market meltdown

Official explains how promise to buy up to £65bn of government debt staved off destructive UK financial spiral

2 years ago·London, United Kingdom

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The Independent

Bank of England intervention prevented destructive ‘spiral’ after mini-Budget

Threat to pension funds could have triggered ‘widespread financial instability’

2 years ago·London, United Kingdom

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The Telegraph

Pound slumps below $1.12 as tax cut worries grip markets

The pound has slumped further against the dollar as concern over the Government’s tax-cutting fiscal plans continue to grip markets.

2 years ago·London, United Kingdom

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Sky News UK

Bank of England confirms it took action to stabilise pensions market after chancellor's tax-cutting mini-budget

2 years ago·United Kingdom

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MarketWatch

U.K. long bond yields rise as end of Bank of England intervention looms

Deputy governor says BoE's market withdrawal will only take place after gauging the health of the gilt market

2 years ago·United States

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NBC LA

Bank of England Says Pension Funds Were Hours From Disaster Before It Intervened

The Bank of England told lawmakers on Wednesday that a number of pension funds were hours from collapse when it decided to intervene in the U.K. long-dated bond...

2 years ago·Los Angeles, United States

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