Analysts expect Bank of England to convene meeting to raise rates with further increase in NovemberPound’s plummet underlines Kwarteng schoolboy errorQ&A: what does the pound’s slump mean for the UK?Business live updates: sterling plungesThe plummeting value of the pound has sent the interest rate on government debts to a 12-year high, with money markets predicting the Bank of England base rate could almost treble to 6% next year.Sterling tumbled to an all-time low of $1.03 against the dollar overnight before recovering to $1.07 in morning trading as traders priced in forecasts of a major intervention from Threadneedle Street to support the currency. Continue reading...
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