BoE says monitoring markets ‘very closely’ after pound plunges

The value of the United Kingdom's pound has stabilised somewhat after frantic early trading saw it plunge by nearly five percent against the US dollar on Monday. But the country's central bank has said it will keep a keen eye on financial markets after a day of turmoil for the UK's currency and debt. Markets have been reacting with scepticism since the UK government unveiled a package of tax cuts combined with a substantial increase in public borrowing. Al Jazeera's @Paul Brennan reports from Liverpool, the UK.

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