Bank of England to buy UK bonds in attempt to avert financial risk as markets panic "The Bank of England has moved to halt a slide in British government bonds that posed a "material risk to UK financial stability" after political leaders' plans to slash taxes and increase borrowing spooked investors and sent the pound tumbling.Key points:The Bank of England will buy government bonds from Wednesday till mid-October in an effort to stabilise the market The value of the British pound fell to historic lows on Monday after the government announced new tax cuts The IMF issued a rare warning to the UK government following the news, urging them to "re-evaluate" sweeping new tax cuts that may fuel inflation The emergency intervention "
Trying calm the market? A garden hose on a raging inferno? Lucky to have put a fair wack of my investments in $USD prior to the 4AUD dive.
CASH is not safe with inflation undermining it at 6% plus. Calm and clear investment in some sectors is in my view the safety blanket required.
