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Bank of England buys 853 million pounds of bonds, most since Sept. 30

Published 10/10/2022, 15:10
Updated 10/10/2022, 15:18
© Reuters. FILE PHOTO: A person reads a newspaper outside the Bank of England in the City of London financial district in London, Britain, October 3, 2022. REUTERS/Henry Nicholls//File Photo

LONDON (Reuters) - The Bank of England bought 853.1 million pounds ($942.4 million)of long-dated government bonds on Monday, its most since Sept. 30, but far fewer than the 10 billion pounds' worth which it said it was open to buying earlier in the day.

The central bank rejected 262.6 million pounds of offers.

The BoE confirmed earlier in the day that it intends to end its daily programme of gilt purchases on Oct. 14, but said it was doubling the maximum volume of gilts that it was prepared to buy to 10 billion pounds.

The BoE has bought more than 5 billion pounds of gilts in total since the operations started on Sept. 28 in a bid to calm turmoil in the British government bond market triggered by the government's tax cut plans.

($1 = 0.9052 pounds)

 

 

Latest comments

IMF bail out coming
Why when the Debt is in Pounds? You don't understand Sovereign Debt.
You don't understand the UK has a huge current account deficit which means even though the debt is in pounds it is held by people from around the world who will dump it and exchange it back into their own currency. Hence the collapsing pound.
It's insane. They short the market(someone does) to drive it down then to "save" it the government extracts billions from society. The money goes in to financial terrorists pockets who get more $$$, everyone thinks it's cause the sky is falling when, in fact, it was all a lie to scare people and cover for the wealth extraction. The financial terrorists get richer and more powerful and more evil, the working class that keeps society going becomes poorer, sicker, and more insane due to being squeezed to death.... the government takes their bribes from the financial terrorists... then the cycle repeats. The lunatics are in control...
There's no extraction. Money is created by the BOE and always the Balance is Zero. You don't understand Sovereign Debt. Calm down and go do some YouTubing about how it all works. Good luck 🙌🏻
wow
It's insane. They short the market(someone does) to drive it down then to "save" it the government extracts billions from society. The money goes in to financial terrorists pockets who get more $$$, everyone thinks it's cause the sky is falling when, in fact, it was all a lie to scare people and cover for the wealth extraction. The financial terrorists get richer and more powerful and more evil, the working class that keeps society going becomes poorer, sicker, and more insane due to being squeezed to death.... the government takes their bribes from the financial terrorists... then the cycle repeats. The lunatics are in control...
Name of share?
sadir ahmad
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