Bank of England boosts plan to calm market turmoil
New measures have been announced by the Bank of England aimed at ensuring an “orderly end” to its emergency bond-buying scheme.
The scheme was brought in when some pension funds were at risk of collapse following the government’s mini-budget, which sparked turmoil on financial markets.
The Bank says that it will now buy up to £10bn of government bonds on Monday, double the previous limit.
So far the Bank has bought only around £5bn bonds under the £65bn programme.
The scheme will end in October 14, leading to worries that turmoil will reappear once the scheme ends.
