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Sterling and gilts rally as pressure mounts on Liz Truss to ditch tax cuts

Bank of England’s purchase of £4.4bn in UK debt eases investor jitters

Sterling and UK government bonds jumped on Thursday as Liz Truss’s government came under mounting pressure from Tory MPs and the IMF to reverse or alter the unfunded tax cut plans that have shaken markets.

The gains came a day after the Bank of England soothed market jitters with £4.4bn of b