By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
Pound falls after UK bank chief rules out extending help
20221012-035158-preview.jpg
FILE - People pass the Bank of England in London, Wednesday, Sept. 28, 2022. On Tuesday, Oct. 11, 2022, The Bank of England expanded its efforts to stabilize the bond market to include inflation-linked bonds amid continuing concerns about the government’s budget. - photo by AP Photo/Frank Augstein, File
LONDON (AP) — The pound sank against the dollar early Wednesday after the Bank of England governor confirmed the bank won't extend an emergency debt-buying plan introduced last month to stabilize financial markets. Andrew Bailey said the program will end on Friday as scheduled. The pound fell by almost 1% to just below $1.10 after Bailey spoke, before rallying slightly.