British pound tanked to its lowest level against the dollar since 1985If the British pound continues to stay low after the enactment of the mini budget, analysts have predicted that the Bank of England will have to raise interest rates to stave off worse economic consequences. The British pound just hit its lowest level ever against the dollar, $1.04. While the British pound plummeted below the US dollar, the pound is also down 6.4pc against the Euro. Their intervention may become necessary as markets have warned that the lowering of the UK pound could lead UK interest rates to triple by next year. 🌹After 13 years of New Labour British pound at $1.51 UK debt as % of GDP – 69% UK inflation rate – 3.5% 🌳 After 12 years of the Conservatives British pound at $1.08 (37 yr low) UK debt as % of GDP – +100% UK inflation rate – 9.9% Conservative government isn’t working.

Source: The Guardian September 26, 2022 21:58 UTC