Thread: Liz Truss Resigns [Who'll be the next Prime Minister?]
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Old 28-09-2022, 09:33   #400
1andrew1
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Re: New Prime Minister: Liz Truss
This shocked me!
Quote:
UK's cost of borrowing on international markets jumps above rates paid by Greece and Italy

The former Bank of England deputy governor Charlie Bean said it was significant that bond markets now considered Greece and Italy to be safer bets after several days of panic selling.

According to The Guardian, the five-year bond rose to 4.3%, which compares with Italy’s 3.87% and the 4% rate of interest paid by Greece.

France maintained a rate of 2.3% while German five-year bonds traded with an interest rate, referred to as the yield, at 2.03%.

Sir Charlie, who is also a professor at the London School of Economics, said: "When you have a falling currency and rising sovereign bond yields, this is exactly what we see with a typical emerging market sovereign debt crisis.

"That's not to say we're becoming an emerging market, but the fact is we have gone from looking like the US or Germany in terms of bond rates to now being closer to Italy and Greece."
https://news.sky.com/story/pound-slu...s-imf-12615118
Last edited by 1andrew1; 28-09-2022 at 09:37.
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