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MNI BRIEF: BOE Delays Gilt Sales, Acts To Steady Longer End

(MNI) LONDON
(MNI) London

The BOE has moved to steady bond markets by delaying the start of active gilt sales and stepping in to stabilise the longer-end of the curve.

True

The Bank of England will delay the start of its active gilt sales until Oct 31 and make temporary purchases to stabilise the longer-end of the bond market after the steep sell-off of recent days, policymakers said in a statement on Wednesday.

Saying that continuing dysfunction would be a “material risk to UK financial stability”, the BOE said it would make “temporary and targeted” purchases “at an urgent pace”.

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The Bank of England will delay the start of its active gilt sales until Oct 31 and make temporary purchases to stabilise the longer-end of the bond market after the steep sell-off of recent days, policymakers said in a statement on Wednesday.

Saying that continuing dysfunction would be a “material risk to UK financial stability”, the BOE said it would make “temporary and targeted” purchases “at an urgent pace”.

Keep reading...Show less