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#Bank of #England moves to calm bond #market rout after #tax cut storm

source: https://www.reuters.com/world/uk/imf-moodys-censure-uk-policy-bank-england-says-will-act-big-2022-09-28/

Having failed to cool the sell-off with verbal interventions over the previous two days, the British central bank announced on Wednesday the immediate launch of an #emergency bond-buying programme aimed at preventing the market turmoil from spreading.

"Were #dysfunction in this market to continue or worsen, there would be a material risk to UK financial #stability," the BoE warned.

#finance #money #uk #politics #economy #news #warning #problem

Bank of England moves to calm bond market rout after tax cut storm

The Bank of England sought to quell the fire-storm in Britain's bond markets, saying it would buy as much government debt as needed to restore order after new Prime Minister Liz Truss's tax cutting plans triggered financial chaos.

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