Trusted News Discovery Since 2008
{{/content}}
BofE Governor: UK was hours from financial meltdown
Video Credit: ODN
Published on November 4, 2022 - Duration: 00:47s
BofE Governor: UK was hours from financial meltdown
Bank of England Governor, Andrew Bailey, has revealed to Channel 4 News that Britain was just “hours” from economic meltdown following Liz Truss’ mini-budget.
Asked by Channel 4 News presenter and Investigations Editor, Cathy Newman, how close Britain came to financial Armageddon after the run on the pound, Bailey admitted: “I think at the point when we intervened I can tell you that the messages we were getting from the markets were that it was hours.” Report by Czubalam.
Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
You are here
💡 newsR Knowledge: Other News Mentions
Andrew Bailey (banker)
British central banker
Bank of England
Central bank of the United Kingdom
For some reason which no-one can quite remember, when economists talk about interest rates they invariably find themselves referring to species of birds.
Credit: Sky News - Published 1 week ago
The Bank of England interest rate has been kept at 5.25% for a fifth consecutive time, but says the prospects for a cut are "moving in the right direction".
Credit: Sky News - Published 1 week ago
Liz Truss
Prime Minister of the United Kingdom in 2022