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World

Is this a Black Wednesday moment for the Tories?

2 October 2022

6:13 PM

2 October 2022

6:13 PM

Kwasi Kwarteng delivered his mini-Budget one week after the thirtieth anniversary of Black Wednesday, when the markets forcibly ejected sterling from the Exchange Rate Mechanism (ERM). There’s one measure that makes recent market turmoil seem modest and even manageable by comparison with Black Wednesday. According to the Bank of England’s database, the pound fell 2.16

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