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Bank of England tries to calm markets as pound and shares plummet

Discussion in 'Market News' started by Lily, Jun 24, 2016.

  1. Lily

    Lily Forum Member

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    Amid fears Brexit vote risks sparking fresh financial crisis, Carney says Bank ready to do whatever is needed to mitigate impact

    The governor of the Bank of England has stepped forward to calm financial markets after the Brexit vote sent the pound to its lowest level since 1985 and at one point wiped £120bn off the value of Britain’s leading shares.

    Amid fears Bthat it could spark a fresh global financial crisis, Mark Carney said Threadneedle Street was ready to do whatever was needed to mitigate the impact of Britain’s vote to leave the EU. City traders quickly responded by placing bets on an interest rate cut by the end of the year.

    Related: FTSE 100 closes 4% lower in global market sell-off as Brexit recession looms - live

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