20 hours ago
Bond market turmoil eases as Treasury minister says ‘no need’ for government intervention – business live
Lib Dems say chancellor should stay and make emergency fiscal statement and also cancel planned national insurance hikeReeves’ fiscal rules non-negotiable in face of bond sell-off, deputy tells MPsLiz Truss sends legal letter ordering Starmer to stop saying she crashed economyRachel Reeves says she has ‘iron grip’ on finances as borrowing costs surgeThe drop in the pound may make it trickier for the Bank of England to lower interest rates as soon as hoped in 2025.Two two quarter-point cuts to Bank Rate are priced in for this year, bringing rates down from 4.75% to 4.25% by December, but the odds on a cut as soon as February have dipped slightly this week.“With sterling weakening, that meant growing questions were asked about whether the Bank of England could cut rates as fast as expected.“Indeed, investors dialled back their expectations for rate cuts this year by four and a half basis points compared to the previous day, so they now only see 48.5 basis points by the December meetin...
Politics
