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UK Labour party calls for general election after Truss' resignation_我的网站

一 |     London, Oct 20 (UNI) The leader of the UK Labour party, Keir Starmer, on Thursday called for a general election after outgoing UK Prime Minister Liz Truss announced her resignation amid an economic crisis caused by what he described as the "chaos" of the Conservative Party, media reports said.

"This cannot continue. Britain deserves better. Britain cannot afford the chaos of the Conservatives anymore, we need a general election now," Starmer told the lower house of the UK parliament.

The official added that the crisis at the Downing Street caused an economic instability throughout the country which forced its people to overpay for bills, rent, and mortgage.

Earlier in October, Truss promised to reduce public debt amid a flurry of criticism over the government's new plan to support the economy, which included large-scale tax cuts. After the plan's announcement, the yield on five-year UK government bonds rose to its highest level since 2008, at 4.6%, which meant a decrease in demand for debt securities. Consequently, sterling fell to an all-time low of $1.054 per pound.

In late September, a YouGov poll showed that the Conservatives' rating dropped to 21%, while the support of the Labour Party reached 33%, the highest figure since the late 1990s, according Sky news reports.

The next general election in the UK is scheduled to be held no later than January 2025.

UNI GNK。

二 |     (ECNS) -- The People's Bank of China (PBOC) announced on Tuesday that it will conduct a 500 billion yuan (about $69.6 billion) outright reverse repo operation on Wednesday.    The operation will have a tenor of three months (92 days). Data shows that 300 billion yuan of three-month outright reverse repos are set to mature in August, meaning the upcoming operation will be a net injection of 200 billion yuan, in line with market expectations.    Analysts believe the continued net injection of three-month outright reverse repos in August will help maintain ample liquidity in the banking system, prevent an excessive rise in market interest rates and stabilize market expectations.    Wang Qing, chief macro analyst at Golden Credit Rating International Co., Ltd., said this will support the smooth issuance of government bonds.     Wang also said the likelihood of a near-term reserve requirement ratio cut is relatively small, while medium-term liquidity operations are expected to continue with increased volume to support government bond issuance and bank lending.    China's macroeconomic policy will gradually step up countercyclical adjustments in the coming period, he said.    (By Tang Yuxian)                    。

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