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Bank of England's unprecedented bond market intervention yields £3.8bn profit

Summary by Ground News
Bank of England bought gilts in the wake of Liz Truss and Kwasi Kwarteng's mini-budget in September. Soaring interest rates put some pension funds at risk of collapsing. Bank started selling the government debt to public bidders in November, and finished its sell-off on Wednesday.

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Sky News UKSky News UK
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Bank of England's unprecedented bond market intervention yields £3.8bn profit

The Bank of England was forced to intervene after then chancellor Kwasi Kwarteng's mini-budget sent markets spiralling.

·United Kingdom
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City AMCity AM
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Bank of England makes £3.8bn profit from Liz Truss mini budget bond sales

The Bank of England has trousered around £5bn in profits from ditching bonds it hoovered up to stem financial chaos.

·London, United Kingdom
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BloombergBloomberg
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BOE Made £3.5 Billion Profit on Emergency Bond Market Intervention

The Bank of England made a profit of about £3.5 billion on September’s emergency bond market intervention after selling off the final bonds on Thursday.

·New York, United States
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Bloomberg broke the news in New York, United States on Thursday, January 12, 2023.
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