Bank of England takes action as pound remains low

Move comes after the International Monetary Fund criticised the Government's fiscal plan

The Bank of England has stepped in to try and calm markets and prevent what it called a ‘material risk to UK financial stability’.

It comes after the pound slumped to a record low and a number of lenders withdrew mortgage products.

The Government says it’ll work with the bank – but opposition parties say parliament needs to be recalled.

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