London | The International Monetary Fund openly criticised Britain’s new economic strategy on Tuesday (Wednesday AEST), following another slide in bond markets that forced the Bank of England to promise a “significant” response to stabilise the economy.
Pressure piled on Chancellor Kwasi Kwarteng to reassess his policy, which unleashed turmoil in financial markets, as leading economists, investors and executives said rock-bottom investor confidence would recover only if the plan were scrapped.
