The Bank of England launched an emergency intervention to restore order in bond markets after a government tax-cut plan sent borrowing costs soaring a...
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LONDON—The Bank of England released an emergency intervention to restore order in bond markets after a authorities tax-reduce plan sent borrowing prices soaring and taken approximately a meltdown in complicated financial devices held by the usage of pension rate variety.
The BOE stated Wednesday it would buy prolonged-dated U.K. Government bonds “on anything scale is essential” to calm markets and prevent the financial contagion from causing wider monetary damage.
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