BofE Governor: UK was hours from financial meltdown
Video Credit: ODN - Duration: 00:47s - Published
BofE Governor: UK was hours from financial meltdown
Bank of England Governor, Andrew Bailey, has revealed to Channel 4 News that Britain was just “hours” from economic meltdown following Liz Truss’ mini-budget.
Asked by Channel 4 News presenter and Investigations Editor, Cathy Newman, how close Britain came to financial Armageddon after the run on the pound, Bailey admitted: “I think at the point when we intervened I can tell you that the messages we were getting from the markets were that it was hours.” Report by Czubalam.
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Andrew Bailey says that inflation is lower than the Bank of England “thought it would be”. The Bank’s governor adds: “We expect inflation to start falling more rapidly, probably from the late spring onwards.” However, the Bank has raised interest rates from 3% to 3.5% as there is a “pronounced risk” that it “won’t happen in that way”. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Labour’s Rachel Reeves reacts to the UK’s latest Consumer Price Index inflation figures, which fell to 10.5% in December from 10.7% in November. The shadow chancellor says the government’s target of five percent “is still an incredibly high level of inflation,” compared to the Bank of England’s target of two percent. Report by Jonesia. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
UK’s Plan To Deport
Asylum Seekers to Rwanda , Ruled Lawful by High Court.
CNN reports that the controversial policy
was given the green light on Dec. 19.
The U.K. government can make arrangements
for asylum seekers to be sent to Rwanda to have their
claims processed if they entered the country illegally. .
But the High Court also criticized Home Secretary Suella Braverman for not properly assessing individuals' circumstances before transporting them.
[Braverman] must decide if there is anything about each person’s particular circumstances which means that his asylum claim should be determined in the United Kingdom or
whether there are other reasons why he
should not be relocated to Rwanda, Lord Justice Lewis, via statement.
[She] has not properly considered the circumstances of the eight individual claimants whose cases we have considered, Lord Justice Lewis, via statement.
Braverman must now reassess those eight cases.
While Britain's government partnership with Rwanda has been supported by ex-Prime Minister Boris Johnson, Liz Truss, Rishi Sunak and most of the Conservative party.
While Britain's government partnership with Rwanda has been supported by ex-Prime Minister Boris Johnson, Liz Truss, Rishi Sunak and most of the Conservative party.
While Britain's government partnership with Rwanda has been supported by ex-Prime Minister Boris Johnson, Liz Truss, Rishi Sunak and most of the Conservative party.
it has been criticized by refugee rights groups, lawmakers, international agencies and more.
Treating people who are in search of safety like human cargo and shipping them off to another country is a cruel policy that will cause great human suffering. The scheme is wrong in principle and unworkable in practice. , Enver Solomon, chief executive of the Refugee Council, via statement.
The U.K. intends to pay the East African country
$145 million over the next five years to host asylum seekers.
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