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The Latest Breaking News from Bank of England

S&P 500 roars back from six-day slide; bonds surge: Markets wrap

U.S. stocks and Treasuries rallied on Wednesday after the Bank of England’s decision to stage a market intervention boosted UK bonds and tentatively calmed markets.

Tribune News Service

ASX and US markets surge after Bank of England intervenes in bond market to rescue UK financial system

The ASX and US stocks rally after the Bank of England announces a government bond-buying program to stabilise financial markets shaken by the UK government's tax cuts. AGL plans to exit coal earlier and Premier Investment jumps on special dividend.

ABC News

Stocks rally with sterling after surprise move by Bank of England

New York (AFP) - Global stock markets rallied on Wednesday in volatile trading after a surprise intervention by the Bank of England pressured bond yields in Britain and the United States and lifted the pound.

AFP

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Welsh Secretary urges 'calm' in face of turmoil sparked by mini-budget

Robert Buckland stood by Chancellor Kwasi Kwarteng’s plans during an interview with ITV Wales

Wales Online

Dow Jones Futures Fall As Treasury Yields Rebound; Eli Lilly Leads 7 Bullish Stocks

Dow Jones futures fell as Treasury yields rebounded, signaling Wednesday's rally may be short-lived. Eli Lilly leads some bullish stocks.

Investors Business Daily

Cabinet minister urges people to remain ‘calm’ amid mini-budget turmoil

Welsh Secretary Robert Buckland has stood by the Chancellor’s economic plans, saying it is time to be ‘bold’.

The Independent UK

UK market mayhem sparks 'unprecedented' bond-buying from Bank of England

The Bank of England has launched a £65 billion emergency bond-buying programme, in an effort to calm the markets and avert a financial crisis. The "unprecedented" support comes amid mounting criticism of the government's plan to slash taxes. Also in the show: Beata Javorcik, Chief Economist at the European Bank…

France 24

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Treasury minister says ‘we’ll press ahead with tax cuts’ as Tory backlash grows amid market turmoil

Cabinet ministers ‘to be told to make efficiency savings’ amid growing Tory backlash over mini-Budget chaos

Evening Standard

Pension funds 'would have collapsed today' if Bank of England hadn't have stepped in, experts claim

The Bank announced it was stepping in to buy Government bonds – known as gilts – at an 'urgent pace'

Manchester Evening News

Dow Jones Jumps As Yields Plunge; This New Cathie Wood Buy Rockets; Bitcoin Rallies, Coinbase Jumps

The Dow Jones powered higher. A Cathie Wood buy was surging as Biogen exploded. Coinbase stock jumped as Bitcoin rose. Apple stock dived.

Investors Business Daily

Bank of England in £65bn scramble to avert financial crisis

Bank of England left with no action but to intervene after Kwasi Kwarteng’s mini-budget

The Guardian - UK

‘That is what we do’: Trader claims he shorted the pound after mini-budget

Kieran told LBC bankers were ‘rubbing their hands’ when Kwasi Kwarteng unveiled the mini-budget

Evening Standard

It may take a shock rate hike for traders to leave the pound alone

“Be more forceful”: that’s the message to the Bank of England from the financial community, convinced that only massive policy-tightening to lift rates above those of the Federal Reserve, will stabilize the pound.

Tribune News Service

The Guardian view on the financial crisis: a meltdown made in Downing Street

Editorial: Liz Truss’s first big policy has been shot down by financial markets – and her economic credibility shredded

The Guardian - UK

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The Guardian - UK

Tory MPs tell Truss: sack Kwarteng or face mutiny

MPs express disbelief over sterling slump as privately some fear PM’s government is ‘dead on arrival’

The Guardian - UK

This is Truss and Kwarteng’s crisis, not yours – but you’re already a lot poorer because of them

In 25 years of reporting, I have never seen a financial crisis so utterly avoidable, and dragging so much human misery in tow, says Guardian columnist Aditya Chakrabortty

Daily Mirror

Join us LIVE as experts explain future of mortgages and savings as interest rates to rise

Mirror business editor Graham Hiscott will be joined by Mirror Money reporter Sam Barker today (September 29) at 1pm to run through everything you need to know about a series of worrying financial announcements

The Independent UK

Market turmoil ‘has exposed vulnerabilities in the UK’s pension sector’

Concerns had been growing that defined benefit pension funds were at risk of being ‘hammered’ by recent market moves, a finance expert said.

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Chronicle Live

Newcastle Building Society pulls all its mortgage deals after UK economy plunged into turmoil

Mortgage deals have been withdrawn at a record rate, while a North East business chief has warned it is 'increasingly difficult' for financial markets to regain trust in the UK economy

AFP

Stocks rally but investors cautious over recession fears

London (AFP) - Global stock markets rallied on Wednesday in a volatile trading, with investors given an "energy boost" by an intervention by the Bank of England.

The Independent UK

Martin Lewis explains what interest rate hikes mean for mortgage bills

The Bank of England increased the base rate to the highest level in 14 years

Wales Online

Why the Bank of England stepped in - and how it will help households and businesses

The Bank of England’s move to step in and calm the chaos in financial markets follows turmoil for the pound and UK government bonds caused by the Chancellor’s tax-cutting mini-budget

Daily Mirror

Pension funds faced 'mass collapse' within hours if Bank of England hadn't stepped in

Pensions held with investment companies faced turmoil today as the Bank of England was forced to step in to prevent black holes in the accounts of many retirement savings firms

The National (Scotland)

Pension funds would have collapsed today without Bank of England action, reports say

The central bank's actions reportedly staved off "mass insolvencies" of pension pots in yet another consequence of the Chancellor's…

Benzinga

Bank Of England Begins Purchasing UK Bonds To Stabilize Market, 10-Year US Treasury Rates Hit 4%

Bond market volatility continued on Wednesday morning after the Bank of England stepped in to take action to stabilize spiking U.K. gilt yields.

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