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The Bank of England has announced it would buy government bonds on a temporary basis to help “restore orderly market conditions”.
It pledged to buy £65bn of the bonds after Friday’s mini-budget sparked turmoil on financial markets and the pound plunged. Investors had demanded a much higher return for investing in the government bonds, usually a stable investment, causing some to halve in value.
The BBC’s Economics Editor Faisal Islam explains the move.
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