Home Business Bank of England announces purchase of government bonds to calm the sell-off

Bank of England announces purchase of government bonds to calm the sell-off

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The Bank of England will suspend the sale of Gilt and begin temporarily buying long-dated bonds to calm the market chaos sparked by the new government’s so-called “mini-budget”.

UK Gilt yields are on track for their sharpest monthly rise since 1957, due to heavy selling on the bond market following new fiscal policy announcements.

The measures include large tax cuts that have drawn global criticism, including from the IMF.

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