The Bank of England has written to the Treasury Committee detailing the causes and effects of its monetary intervention last week.
John Cunliffe, deputy governor for the Financial Stability for the Bank of England, responded to a letter sent by the chair of the Treasury Committee Mel Stride yesterday (5 October), requesting details of the temporary gilt purchasing programme it carried out last week. On 28 September, the central bank announced it would begin a temporary scheme of buying up to £5bn in long-dated conventional gilts until the 14 October 2022, triggered by a "significant repricing of UK and global financial assets" in the fall out of the government's latest fiscal policy announcement. The Bank of Engl...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
