UK stocks, sterling slip as BoE intervenes after IMF slams budget

The Bank of England (BoE) has said it is making an emergency intervention to calm the market turmoil sparked by the United Kingdom government’s tax cut plans.
The pound slumped, and stocks pared losses after the BoE announced it is buying up long-dated UK government bonds to bring stability to financial markets.
However, even higher interest rates are still likely, and that is worrying news for the country’s property market.

Al Jazeera’s @Neave Barker reports from London, the UK.

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