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Friday, December 02, 2022

Bank of England to spend 65,000 million to halt pound fall

Central banks have lied. It is not true that whatever is needed to end inflation will be done, at least not by the Bank of England. who announced their intention to finance new tax cuts with a budget of £45,000 million sterling last Friday, 23 September.

that message has not been cheap and that is £65,000 million is what the English bank had to spend to prevent the collapse of the pound Following this controversial announcement made by the Minister of Economy, Kwasi Quarteng, and the new Minister of the United Kingdom, Lis Truss.

Undoubtedly, an intervention strategy in the economy that is already in place by the Official Bank of Japan after 23 September decided not to raise rates and intervene in the yen to prevent its deflation.

The message that has reached the market is clear: “Central banks are not going to do what is needed to stop inflation; on the contrary, they are going to generate more money so as not to overwhelm economies.” for that reason, So far this year, sterling has fallen by about 21 per cent against the dollar.

10-year US bonds have also left the stock markets $57 trillion, money missing due to the uncertainty of the economic outlook, An uncertainty that even reached Germany when CPI data was known reached 10% in September, compared to a forecast of 9.4%.

thus, DAX stock has started falling on the market and day by day it is falling below the 12,000 mark leaving more than 2% on the stock market. For more, don’t forget to check out this new installment of Medus Negras presented by journalist and economist Javier Castro in Investment Strategies.

Give us your opinion and let us know if you like or don’t like this video and remember that on our portal you have all the most important economic information of the day.

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