‘Out of control’: What newspapers say about the government’s handling of the UK sterling crisis | newspapers

The turmoil in the financial markets that led to the pound’s decline to a Record drop against the dollar It dominates the front pages today.

The currency fell as investors lost faith in the UK’s public finances after last Friday’s mini budget.

The guardian Leading us with “the sterling crisis deepens as Truss’ strategy unravels,” noting that the government was struggling to prevent a widespread loss of financial market confidence in its economic strategy.

The financial times “BoE and Treasury fail to calm market nerves over UK finances”. The newspaper says that a statement issued by the bank “shattered market hopes for an emergency rate hike to support the pound.”

The times It led to the central bank pledging to act after the pound’s fall with its headline “Bank vows to intervene after day of turmoil”.

The telegraph “Frightened lenders dumped new mortgages amid the pound chaos,” noting that Halifax, Virgin Money and Skipton were among the lenders who withdrew their mortgage deals ahead of an expected rise in interest rates.

The I A newspaper has a similar view with its groundbreaking story: ‘New mortgages banned amid UK market turmoil’ over a picture of Prime Minister Liz Truss and a smiling chancellor Quasi Quarting.

The pass “Don’t panic! We have a debt reduction plan,” he says. She says the finance minister “ignored the volatility of the financial markets yesterday” with a pledge to lay out his debt-reduction strategy.

The metro It contains “Pound Kwartanks” along with an image of Kwarteng.

The Mirror He runs the subtitle “The Economic Disaster of the Conservatives” above its main title “Out of Control.” Millions of families face more financial misery as “Quarting’s tax cuts throw markets into chaos,” the paper says.

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The Mail Take is “Fury at the city slickers betting against UK Plc.” It quoted senior conservatives as saying that the short sellers “were trying to make money from the bad news”.

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