BoE warns that gilt market chaos poses a ‘material risk to UK financial stability’, as it starts buying inflation-linked bonds
Pat McFadden MP, Labour’s Shadow Chief Secretary to the Treasury, is urging the government to reverse last month’s mini-budget after the Bank of England stepped in again to calm markets.
McFadden says:
“That the Bank of England has been forced to step in for a second day running to reassure markets shows the government’s approach is not working, and creates renewed pressure for the Chancellor to reverse his Budget.
“This is a Tory crisis made in Downing Street, being paid for by working people.
