Sterling see-saws after a report the Bank of England is preparing to extend its emergency bond-buying programme, despite Governor Andrew Bailey's message to markets that funds have just three more days to rebalance their positions. The International Monetary Fund slashes its global outlook and warns the world is on the brink of a 'painful' recession. Chinese authorities ramp up covid testing across some of the country, days ahead of the Communist Party Congress. In corporate news, LVMH toasts a third quarter sales beat, as the luxury giant sees a boost from the stronger dollar, with American tourists splashing out in European stores.

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