The Bank of England will intervene in the market chaos engulfing the pound, with a plan to purchase long-dated UK government bonds from 28 September.
The central bank warned on 26 September it would take action following a widescale selloff on the pound, pushing the currency to record lows, on the back of the Treasury’s £45bn tax giveaway in the 23 September mini-budget, which prioritised a lift for the wealthiest.
