# Bank of England 'will not hesitate' to act as it monitors market turmoil | Reuters

> The Bank of England said it would act as needed while monitoring market turmoil after the pound briefly hit a record low. Halifax, Virgin Money and Skipton Building Society withdrew mortgage products amid volatility.

- Date: 2022-09-26 · published 2022-09-26T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/39831-bank-of-england-will-not-hesitate-to-act-as-it-monitors-market-turmoil-reuters
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Lender withdrawals and market volatility signal tightening credit conditions and a stronger dollar, which weighs on import costs and risk appetite for commodities.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-03-15 | [Market bets on big ECB rate hike evaporate on renewed bank turmoil \| Reuters](https://feedsoft.ai/events/10076-market-bets-on-big-ecb-rate-hike-evaporate-on-renewed-bank-turmoil-reuters.md) | -0.1% | -1.2% |
| DXY | 2022-09-28 | [Bank of England moves to calm bond market rout after tax cut storm](https://feedsoft.ai/events/39828-bank-of-england-moves-to-calm-bond-market-rout-after-tax-cut-storm.md) | -1.8% | -1.5% |
| DXY | 2022-09-28 | [Bank of England intervenes in market to halt economic crisis \| PBS News](https://feedsoft.ai/events/39832-bank-of-england-intervenes-in-market-to-halt-economic-crisis-pbs-news.md) | -1.8% | -1.5% |
| DXY | 2022-09-26 | [Bank of England (BOE) Won’t Hesitate to Change Rates After Pound (GBP USD) Falls - Bloomberg](https://feedsoft.ai/events/39834-bank-of-england-boe-won-t-hesitate-to-change-rates-after-pound-gbp-usd-falls.md) | +0.2% | +0.6% |
| DXY | 2023-06-22 | [Dollar, yields rise after Powell comments, Bank of England rate hike \| Reuters](https://feedsoft.ai/events/35670-dollar-yields-rise-after-powell-comments-bank-of-england-rate-hike-reuters.md) | +0.5% | -1.0% |

## Sources

- reuters.com: https://www.reuters.com/markets/europe/sterling-sinks-new-low-mini-budget-hits-investor-faith-uk-markets-2022-09-26/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.