Following market volatility, the UK finance minister will speak with banks

Later this week, prominent high street banks are anticipated to meet with the British finance minister Kwasi Kwarteng.

claiming that NatWest (NWG.L), Lloyds Banking Group, and Barclays were among the attendees.

According to the Sky story, the meeting was scheduled on Thursday, and Kwarteng was expected to "quiz bankers on their plans" 

because of the market turbulence that followed the release of his mini-budget, which increased mortgage rates.

The budget last month caused wild swings in the sterling funding markets, which determine what mortgage rates they offer to homeowners

Investors fled the pound and UK government bonds after finance minister Kwasi Kwarteng revealed plans to increase borrowing to pay for tax cuts on Friday, Sept. 23.

As a result, rates on some of that debt shot up at the quickest rate in history.


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