Bank of England Further Expands Bond-Market Rescue

by | Oct 11, 2022 | Business

LONDON—The Bank of England extended support targeted at pension funds for the second day in a row, the latest attempt to contain the fallout of a furious bond-market selloff that has threatened U.K. financial stability.The central bank on Tuesday said it would add inflation-linked government bonds to its program of bond purchases after a fresh attempt on Monday to help pension funds failed to calm markets. The bank said it would buy up to £5 billion of index-linked gilts each day through Friday, equivalent to $5.5 billion. On Monday, the bank doubled the total daily amount of bonds it could buy to £10 billion.

Article Attribution | Read More at Article Source

Share This