The rally came even amid expectations that the Bank of England will cut its benchmark rate for the first time since 2009 to support the economy from the Brexit fallout
The Bank of England would be wise to delay a decision on interest rates, but Mark Carney's indications mean there is more than an 80 per cent chance of a cut this week – not to proceed now would cause an economic shock
Economists think Mark Carney and the Monetary Policy Committee will cut rates from their current historic floor of 0.5 per cent to just 0.25 per cent tomorrow. But what will such a reduction mean for UK borrowers, savers, workers and families?
Tim Martin accused Christine Lagarde and Mark Carney of 'irresponsible doom-mongering'
The reaction to whatever the Bank does with interest rates will be more interesting than the decision itself
The cut seems likely to come in July or August
Funds fear that too many property investors will try to take their money out at once
Columbia Threadneedle, Henderson Global Investors and Canada Life will not allow customers to cash in property fund shares, citing liquidity pressures
It has reduced capital buffers by £5.7bn, effectively allowing banks to lend £150bn more to households and businesses
The Chancellor has said the Treasury would support the Bank of England pumping further money into the lending subsidy scheme after the EU referendum result
Bank of England Governor Mark Carney strongly hinted at further loosening monetary policy, leading to a fall in the pound's value
The Governor's remarks have been taken as a sign that interest rates will be slashed ths summer as a result of the Brexit result
Lenders have taken more than £9 bn from the central bank in June
Leave campaign's biggest donor has seen 19 per cent wiped off his fortune
Earliest and most violent response seen in the foreign exchange forums as sterling sinks to $1.35 against the dollar - lows not witnessed since 1985
His comments followed Prime Minister David Cameron’s announcement that he will step down later this year