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Bank of England intervenes to buy bonds amid pound chaos: ‘It looks pretty ugly’
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The Bank of England will intervene in the market chaos engulfing the pound, with a plan to purchase long-dated UK government bonds from 28 September.
The central bank warned on 26 September it would take action following a widescale selloff on the pound, pushing the currency to record lows, on the back of the Treasury’s £45bn tax giveaway in the 23 September mini-budget, which prioritised a lift for the wealthiest.
“The...
Read more on fnlondon.comAbout this in other media
Why the Bank of England is struggling to calm markets fnlondon.com /1 year ago
Bank of England expands bond buying to avoid ‘fire sale’ theguardian.com /1 year ago
Bank of England doubles bond-buying limit amid pension fund fears theguardian.com /1 year ago
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