China Xiaokang.com reported on October 12 that the British Bank of China Governor Andrew Bailey warned the Bank of England not to extend its emergency intervention in the financial markets until this week, the pound fell sharply against the dollar.

China Xiaokang Network October 12th News Lao Ma After the UK government’s small budget caused turmoil, central bank Governor Andrew Bailey warned the Bank of England not to extend its emergency intervention in the financial markets until after this week, the pound fell sharply against the dollar.

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British Guardian reported that the pound fell more than 1 cent to below $1.10 after the Bank of England governor insisted that the plan to buy UK government bonds of £65 billion will not last until Friday's deadline.

The leader in the pension industry and a former deputy governor of the bank had earlier called for an extension of the period to eliminate the ongoing bond market impact triggered by Kwasi Kwarteng’s small budget last month’s poor ratings.

At the beginning of the day, the central bank said it would adjust the plan's bond purchase firepower for the second time within a number of days within the existing time frame, warning that the government debt market still has "significant risks" affecting the UK pension funds.