The head of the Bank of England spoke about the financial Armageddon because of the decisions of Truss
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How informs TV channel Channel 4, the head of the Bank of England Andrew Bailey said that the UK was only a few hours away from the onset of “financial Armageddon”.
Bailey noted that the reason for this situation was the ill-conceived decisions of Liz Truss, who at that time held the post of Prime Minister of the country.
“We received reports from the markets that it was a matter of several hours (before the collapse of the UK financial market – ed.)”, – said the head of the Bank of England, explaining why it was decided to intervene in the situation.
Recall that the situation in Britain escalated when the Truss government announced a massive tax cut, which led to a record collapse in the pound sterling and subsequently to the resignation of the prime minister.
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