In a statement, the Bank of England said it was "monitoring developments in financial markets very closely in light of the significant repricing of financial assets."
Kwasi Kwarteng declined to comment after the pound dropped to its lowest ever level against the dollar, following the most extensive programme of tax cuts for 50 years.
Paul Kelso has this report.
#skynews #economy #bankofengland
SUBSCRIBE to our YouTube channel for more videos: www.youtube.com/skynews
For more content go to news.sky.com and download our apps:
Sky News videos are now available in Spanish here/Los video de Sky News están disponibles en español aquí www.youtube.com/channel/skynewsespanol
Sky News videos are also available in German here/Hier können Sie außerdem Sky News-Videos auf Deutsch finden: www.youtube.com/channel/UCHYg31l2xrF-Bj859nsOfnA
To enquire about licensing Sky News content, you can find more information here: news.sky.com/info/library-sales