Bank of England completes sale of £19bn emergency bond purchases after mini-budget

BoE was forced to intervene in markets to prevent run on pension funds

The Bank of England has finished unwinding the emergency bond-buying scheme it launched to calm the turmoil in financial markets that followed Liz Truss’s disastrous mini-budget last autumn.

Threadneedle Street said it had completed the sale of £19.3bn of government bonds purchased in autumn 2022 on financial stability grounds – three months after it was forced to intervene in markets to halt a run on pension funds.

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​BoE was forced to intervene in markets to prevent run on pension fundsThe Bank of England has finished unwinding the emergency bond-buying scheme it launched to calm the turmoil in financial markets that followed Liz Truss’s disastrous mini-budget last autumn.Threadneedle Street said it had completed the sale of £19.3bn of government bonds purchased in autumn 2022 on financial stability grounds – three months after it was forced to intervene in markets to halt a run on pension funds. Continue reading…