BoE peers over gilt-market chasm pivotal for Reeves’ UK budget

People pass by the Bank of England building in London. — Bloomberg

LONDON: The Bank of England (BoE) is about to grapple with one of the thorniest decisions since it began unwinding crisis-era stimulus in 2022 as it confronts a year of unusually high bond redemptions.

Governor Andrew Bailey and his colleagues will decide this month whether to keep the run-off of their portfolio bought up through years of emergency purchases at a steady pace of £100bil, or whether to increase that amount.