As Bailey vows he won't provide emergency help, the pound falls significantly.

After adamantly stating that the Bank of England will terminate emergency support for pension funds on Friday.

Andrew Bailey caused a significant decline in the value of the pound.

As the Bank Governor reaffirmed that a £65 billion bond-buying programme that has shielded retirement systems from collapse will be discontinued at the end of the week.

The value of the pound fell by 1.3 percent to under $1.10.

Mr. Bailey forewarned that the window of opportunity for fund managers to organise their accounts is closing. You have three days to complete this, he said.

Speaking at an International Monetary Fund (IMF) meeting in Washington, the Governor also rebuffed claims made by Kwasi Kwarteng.


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Fragile global bond markets tremble in response to Bailey's warning