Cliff edge looms for UK’s financial system

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BoE’s move to end bond buying is a big gamble given the magnitude of the bind Britain is inBorrowing costs rise after BoE insists it will end bond-buyingThe Bank of England governor plans to stick – but it is a gambleBritain’s financial system is approaching a cliff edge. After stepping in to calm the market chaos that followed Kwasi Kwarteng’s mini-budget, the Bank of England has insisted it will close the £65bn emergency scheme used to smooth over the mess.From Friday, the central bank plans to halt its rescue purchases of UK government bonds, in a market where funds managing the re ...

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