BANK OF ENGLAND: 'ALL NECESSARY STEPS'
REUTERS/Yuri Gripas
The central bank issued a statement at 7:00 a.m., here it is:
"The Bank of England is monitoring developments closely. It has undertaken extensive contingency planning and is working closely with HM Treasury, other domestic authorities and overseas central banks."
"The Bank of England will take all necessary steps to meet its responsibilities for monetary and financial stability."
Markets are going crazy.
The pound is dropping like a stone, off more than 10% against the dollar at $1.3416. Meanwhile Japan's Nikkei dived as much as 8.3% to 14,890.56 points, the lowest since February.
The UK's FTSE 100 opens at 8 a.m, and it's expected to be a bloodbath. The FTSE 100 will open down 8.7% according to estimates from Bloomberg News.
Next Story
I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
Audi to hike vehicle prices by up to 2% from June
Kotak Mahindra Bank shares tank 13%; mcap erodes by ₹37,721 crore post RBI action
Rupee falls 6 paise to 83.39 against US dollar in early trade
Markets decline in early trade; Kotak Mahindra Bank tanks over 12%
An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
