Bank of England wasn’t briefed on mini-budget
The government did not tell the Bank about its tax cut plans, says deputy governor Sir Jon Cunliffe. …
In a letter to MPs on the Treasury Committee on Monday, Sir Jon wrote: “There has been a particular increase in volatility in UK markets” and pointed out that: “The five largest daily moves in the 30-year inflation-linked gilt, in data that dates back to 2000, have all been since the 23 September”, which was when the mini-budget was unveiled.
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