UK finance minister to meet banks after market chaos

According to a report on Sky News on Wednesday, Kwasi Kwarteng, the British finance minister, is scheduled to meet with several major high street banks later this week.

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.

Kwarteng visited with financial professionals this week, including those from JPMorgan and Bank of America on Wall Street

To reassure them about the budget and stress the government's "strong commitment to budgetary restraint."

As investors worried about how the government would pay for its ambitions.

The budget last month produced huge fluctuations in the sterling financing markets, which influence what mortgage rates they give to homeowners.

An average two-year fixed rate mortgage is now up to 6.07%, compared to 2.25% a year ago, according to financial services business Moneyfacts, which estimated last week that a record 935 mortgage products were removed overnight.

African countries urge rich nations to honour $100bn climate finance pledge