The Bank of England will suspend the planned start of its gilt selling next week and begin temporarily buying long-dated bonds to calm recent market chaos.
KEY POINTS
- U.K. gilt yields were on course for their sharpest monthly rise since at least 1957 as investors fled 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.
Source: Bank of England intervenes in bond market after historic sell-off
