BoE to carry out temporary purchases of long-dated gilts
“The BoE noted that to achieve its objective of maintaining financial stability, ‘the Bank will carry out temporary purchases of long-dated UK government bonds from 28 September. The purpose of these purchases will be to restore orderly market conditions.”
“Yet neither higher rates nor the emergency bond-buying plan have done anything for sterling. Market confidence, once lost, is always difficult to regain.”
“We look for an eventual test of this week’s new all-time low near 1.0350.”
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