The Bank of England looks set to give itself at least another 100 billion pounds (US$127 billion) in bond-buying firepower next week to try to ...
The Bank of England looks set to give itself at least another 100 billion pounds in bond-buying firepower next week to try to stop the coronavirus crisis from inflicting further damage on Britain's economy.
The BoE is amassing gilts faster than the government is selling them in order to prevent the debt flood from pushing up borrowing costs. Data on Friday is expected to show Britain's gross domestic product plunged by about 20per cent in April although there have been some signs of a recent bottoming out of the slump.
Analysts at NatWest Markets said they expected the BoE would slow the pace of its bond-buying, meaning the next increase in the programme might not happen until November.
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