# Bank of England intervenes in market to halt economic crisis | PBS News

> The Bank of England took emergency action to stabilise UK markets by buying long-term government bonds over two weeks. The bank warned of a material risk to financial stability, and the IMF urged the government to abandon its unfunded tax-cut plan of 45 billion pounds.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: macro · region UK · magnitude medium
- Page: https://feedsoft.ai/events/39832-bank-of-england-intervenes-in-market-to-halt-economic-crisis-pbs-news
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Emergency central bank intervention and financial stress support a firmer dollar and risk-off conditions, which can pressure commodity prices and import costs for UK buyers.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-09-26 | [Bank of England 'will not hesitate' to act as it monitors market turmoil \| Reuters](https://feedsoft.ai/events/39831-bank-of-england-will-not-hesitate-to-act-as-it-monitors-market-turmoil-reuters.md) | +0.2% | +0.6% |
| DXY | 2022-09-28 | [What is the Bank of England doing in bid to stabilise UK economy? \| Bank of England \| The Guardian](https://feedsoft.ai/events/39833-what-is-the-bank-of-england-doing-in-bid-to-stabilise-uk-economy-bank-of.md) | -1.8% | -1.5% |
| DXY | 2023-09-21 | [Reactions: Bank of England bashes pound after halting rate rises](https://feedsoft.ai/events/34354-reactions-bank-of-england-bashes-pound-after-halting-rate-rises.md) | +1.7% | +2.3% |
| DXY | 2022-10-20 | [TD Economics - Market Insight: When I Find Myself In Times of Trouble](https://feedsoft.ai/events/39354-td-economics-market-insight-when-i-find-myself-in-times-of-trouble.md) | -1.5% | -3.4% |

## Sources

- pbs.org: https://www.pbs.org/newshour/economy/bank-of-england-intervenes-in-market-to-halt-economic-crisis

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