Home Business NewsBusiness Bank of England completes sale of £19bn emergency bond purchases

Bank of England completes sale of £19bn emergency bond purchases

by LLB Reporter
12th Jan 23 11:31 am

The Bank of England has completed its sales of the £19.3bn of UK government bonds it bought last autumn to stabilise the markets, after the disastrous mini-budget.

The Bank says it bought £19.3bn of gilts under the programme, launched after the surge in UK borrowing costs created a crisis for pension funds. It had offered to buy up to £65bn to bring stability back to the bond market.

Today, it says it has now fully sold that £19.3bn portfolio of temporary gilt holdings, through a series of market operations since November 29, and through “the subsequent bilateral sale of small remaining holdings” after a sale yesterday.

The Bank says its Financial Policy Committee has welcomed the “timely but orderly unwind of this portfolio”.

Leave a Comment

You may also like

CLOSE AD

Sign up to our daily news alerts

[ms-form id=1]