# What is the Bank of England doing in bid to stabilise UK economy? | Bank of England | The Guardian

> The Bank of England intervened to stabilise financial markets after steep falls in the pound against the dollar and a surge in UK borrowing costs. The Bank said it acted because of concerns about the impact of these swings.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: macro · region UK · magnitude low
- Page: https://feedsoft.ai/events/39833-what-is-the-bank-of-england-doing-in-bid-to-stabilise-uk-economy-bank-of
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md)

## Why it matters

Currency and bond market stress affects dollar strength and import costs, with modest implications for dollar-priced feed commodities.

## Read by commodity

- DXY: bullish ▲
- GBPUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-06-24 | [Bank of England in No Rush to Normalise, Pound Falls Following June Statement](https://feedsoft.ai/events/46821-bank-of-england-in-no-rush-to-normalise-pound-falls-following-june-statement.md) | +0.2% | +1.0% |
| 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 | 2022-10-11 | [An Update on the Economy and Monetary Policy: Perseverance in Returning to Price Stability](https://feedsoft.ai/events/39041-an-update-on-the-economy-and-monetary-policy-perseverance-in-returning-to-price.md) | +0.3% | -0.8% |
| DXY | 2024-04-18 | [How the strong U.S. dollar is rippling through the world economy](https://feedsoft.ai/events/12559-how-the-strong-u-s-dollar-is-rippling-through-the-world-economy.md) | -0.1% | -1.4% |
| DXY | 2022-07-15 | [What the dollar's surge means for the economy](https://feedsoft.ai/events/40692-what-the-dollar-s-surge-means-for-the-economy.md) | -0.9% | -2.7% |

## Sources

- theguardian.com: https://www.theguardian.com/business/2022/sep/28/what-bank-of-england-doing-pound-dollar-uk-economy-interest-rates-bonds

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