Pound - live: asks Truss to 'come out of hiding' to fix 'economic disaster'

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Bank of England 'won't hesitate' to raise interest rates amid market turmoil

Breaking days of silence as markets turmoil, Liz Truss insisted that the mini-budget of his Chancellor Kwasi Kwarteng was the "right plan" and had "put this country on a better path". long-term trajectory”.

But the Prime Minister admitted that higher growth "will not happen overnight", as she was accused by a former governor of the Bank of England of "undermining the institutions economic turmoil" with the mini-budget, which sparked economic turmoil.

Sir Mark Carney warned that the government's £45billion tax giveaway - the biggest in five decades - "was working to against the tide" with the bank, which was forced to make an emergency intervention in the gilt market on Wednesday to avoid a crisis in the main pension funds of the United Kingdom.

The intervention of the bank - to buy billions of 30-year UK government bonds - backed the pound and brought some balm to a turbulent mood in the markets, but after a morning of trading in Asia the pound had struggled to find support and was again down 1% at $1.0776.

1664436570Kwarteng works 'very, very closely' with Bank of England, says Truss

Chancellor Kwasi Kwarteng is working 'very, very closely' with Bank of England Governor Liz Truss said.

“We are going through very difficult economic times. We are facing this globally,” the Prime Minister told BBC Radio Leeds. “Of course many of the measures we have announced will not happen. not overnight. We won't see growth happen overnight.

"What's important is that we put this country on a better long-term trajectory."< /p>Andy Gregory29 Sep...