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  • UK spokesperson: BOE bond buying to be financed with new reserves

    UK SPOKESPERSON: BOE BOND BUYING TO BE FINANCED WITH NEW RESERVES.

    — Breaking Market News (@financialjuice) September 28, 2022
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  • Comment #1
  • Quote
  • Sep 28, 2022 7:34am Sep 28, 2022 7:34am
  •  jordanvic
  • | Joined Jul 2020 | Status: Bro | 554 Comments
so it's exactly QE
 
 
  • Comment #2
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  • Sep 28, 2022 7:40am Sep 28, 2022 7:40am
  •  Guest
  • | IP XX.XXX.12.45
Lol. BoE's answer to inflation is to print more money. I think the only solution will be a politically one where inflation destroys so much of an average British income that the medicine of QT and higher interest rates is desirable.
 
 
  • Comment #3
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  • Sep 28, 2022 9:22am Sep 28, 2022 9:22am
  •  RossEdwards
  • Joined Jun 2019 | Status: Member | 3270 Comments
NEW RESERVES ?
Do you mean IOUs youve signed in trust on behalf of the unborn?
Warning: A Dangerous Subversive: 1% of comments CoCed
 
1
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  •  Guest
  • | IP X.XXX.195.196
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    Bank of England announces gilt market operation

    From bankofengland.co.uk|Sep 28, 2022|38 comments

    As the Governor said in his statement on Monday, the Bank is monitoring developments in financial markets very closely in light of the significant repricing of UK and global financial assets. This repricing has become more significant in the past day – and it is particularly affecting long-dated UK government debt. Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability. This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy. In line with its financial stability objective, the Bank of England stands ready to restore market functioning and reduce any risks from contagion to credit conditions for UK households and businesses. To achieve this, the Bank will carry out temporar tweet at 6:12am: BoE TLDR via @Newsquawk https://t.co/7VtGCejIcwBank of England delays bond sales, launches temporary purchase program after market turmoil The Bank of England will suspend the planned start of its gilt selling next week and begin temporarily buying long-dated bonds in order to calm the market chaos unleashed by the new government’s so-called “mini-budget.” U.K. gilt yields are on course for their sharpest monthly rise since at least 1957 as investors flee British fixed income markets following the new fiscal policy announcements. The measures included large swathes of unfunded tax cuts that have drawn global criticism, including from the IMF. In a statement Wednesday, the central bank said it was monitoring the “significant repricing” of U.K. and global assets in recent days, which has hit long-dated U.K. government debt particularly hard.

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    BOE acted amid concern wed cash calls would trigger gilt crash

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  • Story Stats
  • Posted: Sep 28, 2022 7:00am
  • Submitted by:
     Newsstand
    Category: Low Impact Breaking News
    Comments: 3  /  Views: 1,801
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