LONDON: The Bank of England (BoE) has stepped up its support for the United Kingdom bond market rattled by the government’s unfunded tax cuts, aiming to prevent a rout in a US$1 trillion (RM4.7 trillion) part used by the pensions industry from spreading.
The UK central bank’s move is designed to bring an orderly finish to emergency purchases at the end of the week and to provide longer-term support for a wider range of securities in the coming weeks.
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