UK cliff edge arrives as Bank of England prepares to end its emergency bond buying - 14 octombrie 2022
The central bank announced the two-week intervention in the long-dated bond market on Sep. 28, having been informed that a number of liability driven investment (LDI) funds — held by pension schemes — were hours from collapse.
Finance Minister Kwasi Kwarteng will now deliver an updated medium-term fiscal plan on Oct. 31, the same day the Bank of England has earmarked to commence selling gilts as part of its wider monetary tightening efforts.
Kwarteng cut short a visit to the International Monetary Fund in Washington Thursday, flying back to the U.K. as the government convened to address the country’s economic crisis.