UK Turmoil Blame Game: Kwarteng Scapegoats Bailey

The transcript discusses the tension between the UK Chancellor and the Bank of England Governor over the end of the bond buying program. The Chancellor suggests the Bank is responsible for any market volatility, while the Governor faces pressure to extend the program. Both the Prime Minister and the Governor are under pressure to reverse their policies. The Bank's focus is on fighting inflation, but UK pension funds rely on the bond buying program. Investors are watching to see who will make the first move.

What responsibility does the Chancellor assign to the Bank of England regarding market volatility?

• Regulating interest rates

• Handling market volatility post bond-buying program

• Ensuring economic growth

• Managing inflation rates

What fiscal action is the Prime Minister under pressure to reconsider?

• Implementing new taxes

• Increasing public spending

• Reversing tax cuts

• Reducing interest rates

What is the Bank of England governor being urged to do regarding the bond-buying program?

• Transfer it to another institution

• Reduce its scale

• Extend it

• End it immediately

What is the main concern of the Bank of England according to its chief economist?

• Reducing public debt

• Increasing employment

• Fighting inflation

• Boosting economic growth

Why are UK pension funds closely watching the bond-buying program?

• They are heavily invested in bonds

• They rely on it as a financial lifeline

• They are planning to sell their bonds

• They want to invest in new bonds