Stay updated with breaking news from Howl removed. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
we start with the latest market action and as the trading day began in asia the pound started to slide down nearly 5% at one point against the us dollar that s on top of the 3.6% dive on friday. investors are running for the exits as fears mount the new government s shock and awe tax plans for the uk economy are too big a gamble. on friday the chancellor, kwasi kwarteng, announced historic tax cuts, and the biggest increase in borrowing since 1972 to pay for them. there is now calls for the bank of england to take emergency action to calm rattled markets and bolster sterling. so let s look at how the pound is trading now. it has been hovering around just over $1.05 but one hour ago we were looking at the pound buying $1.03 so it has recovered a tiny bit but not much and you can see that the markets in asia are fairly mixed and we have the price of oil edging lower as well. joining me now is simon french, chief economist at panmure gordon. is at panmure gordon. thi ....
Are finding that kindness being removed. ., ,., removed. there are some dramatic removed. there are some dramatic headlines, - removed. there are some dramatic headlines, howl removed. there are some - dramatic headlines, how worried should be? some them say that we are looking like an emerging market today. market today. certainly sterling market today. certainly sterling is market today. certainly sterling is trading - market today. certainly sterling is trading that l market today. certainly - sterling is trading that way. i do think the overall take that the uk is an emerging market is overdone but certainly the price action over the last few days does look like and a mary king emerging market currency but one of the things that are spooking investors is the suggestion of a potential emergency rating. we have to talk about what this means for day to day people in britain, this means that importing costs become more expensive putting upward pressure on inflation and of cou ....