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Lows against the dollar. some of the country s biggest lenders have suspended mortgage deals amid the uncertainty. the treasury said, we are focused on growing the economy to raise living standards for everyone. adnan mazarei is a former deputy director at the imf. here s his reaction on the today programme. the imf doesn t make such strong statements about g7 countries. these statements are common with regard to emerging market countries with problematic policies, but not often about g7 countries. so what is it about the announcements from kwasi kwarteng that has spooked them to make this move? i think they re worried that the tax cuts are permanent. they are afraid that the budget financing needs will go up. ....
The pound and FTSE 100 have slumped after both the International Monetary Fund and Moody’s made shock interventions over the Government’s tax-slashing Budget. ....
But not often about g7 countries. so what is it about the announcements from kwasi kwarteng that has spooked them to make this move? i think they re worried that the tax cuts are permanent. they are afraid that the budget financing needs will go up. and their requiring more borrowing domestically. inflation rising, requiring interest rate increases by the bank of england. and there being a policy conflict between the treasury and the bank of england. at the same time, the united kingdom is running a large current account deficit and relies on foreign financing. adnan mazarei, former deputy director of the imf. ....