Bank of England Intervenes to Stabilize Market and Control Falling Pound
To stabilize the falling pound, the Bank of England swung into action on Wednesday announcing the purchase of its long-dated government bonds.
The major UK banks warned bitcoin could negatively impact the financial system and currency in a submission to the UK Treasury.
To stabilize the falling pound, the Bank of England swung into action on Wednesday announcing the purchase of its long-dated government bonds.
The reaction to the mini-budget has been a cause for concern with the shadow chancellor Rachel Reeves stating that she was incredibly worried.
The escalating inflation, currently at the highest level among all G-7 nations, the impending recession, and concerns about tax cuts has been the driving factors pushing the Sterling down the slope.
It is still unclear how the news will affect the biggest coins on the crypto scene due to the current uncertainty in the finance world.
The major UK banks warned bitcoin could negatively impact the financial system and currency in a submission to the UK Treasury.