British Prime Minister Liz Truss fired her finance minister, Kwasi Kwarteng, on Friday, shortly before she is expected to scrap parts of the government's economic package.
Thomson ReutersBritish Prime Minister Liz Truss is seen here at the annual Conservative Party conference in Birmingham on Oct. 2.
Kwarteng said he had resigned at Truss's request after rushing back to London overnight from IMF meetings in Washington. Truss, in power for only 37 days, will hold a news conference later on Friday, Downing Street confirmed. British government bonds rallied further ahead of Truss's statement, adding to their partial recovery since her government started looking for ways to balance the books after her unfunded tax cuts crushed U.K. asset values and drew international censure.
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