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Published 1 year ago

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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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.

1 year ago·United Kingdom

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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.

1 year ago·United States

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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.

1 year ago·London, United Kingdom

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