Birdwatch Note Rating
2023-05-01 10:07:39 UTC - HELPFUL
Rated by Participant: 1A0666A28D649ED11A4BAF42DBF5224FE09C85D9C767EF789828CD36DE713ECD
Participant Details
Original Note:
Within days of the minibudget, the Pound had fallen to the lowest ever Dollar exchange rate, and the cost of government borrowing had jumped from 3.5% to 5%, leaving UK pensions companies on the brink of collapse. Only then did the Bank of England intervene. https://www.efginternational.com/uk/insights/2022/uk-mini-budget-sparks-gilt-market-mayhem.html#:~:text=From%201%20October%202019%20to,cash%20to%20meet%20collateral%20calls.
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