Bank of England intervenes with temporary QE to stem sell-off

Elliot Gulliver-Needham
clock • 1 min read

The Bank of England has delayed gilt sales, which was to be the start of the reversal of Quantitative Easing, instead making temporary purchases of long-dated gilts from today "to restore orderly market conditions". "The purchases will be carried out on whatever scale is necessary to effect this outcome," the bank added. It said they will be strictly time limited and last until 14 October. The central bank said that it had been monitoring the significant repricing of gilts in recent days and was ready to "restore market functioning and reduce any risks from contagion" to UK households...

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