Copy article

Bank of England statement

ended 17. October 2022

This morning, the Bank of England made a statement on the end of its gilt market operations. You can read it >> here <<. It says “these operations have enabled a significant increase in the resilience of the sector”. One question, do you agree? And what's happening to the markets this morning? Deadline is ASAP.

3 responses from the Newspage community

Copy all

Star Quote
Copy

Premium
Philip Dragoumis
Director and Owner at Thera Wealth Management
Jeremy Hunt’s comments over the weekend as well as Monday's planned announcements signal the mother of all U-turns on the mini-Budget. There is also the expectation of more fiscal measures to come over and above the U-turns. This has been timed to coincide with the end of the Bank of England's bond buying programme and it seems to be working. Sterling was rallying strongly Monday morning and bonds were up. A Truss resignation and more “adults in the room” will also be welcomed by markets.
Copy

Editor
Riz Malik
Independent Financial Adviser at R3 Wealth
The Bank of England's operations over the past week or two have not not led to an increase in the resilience of the sector. It led to the survival of the sector. As the lender of last resort and with their function to maintain market stability, this may not be their last intervention. They may be called upon again to clean up this government's mess.
Copy

Editor
Wes Wilkes
CEO at IronMarket Wealth
I don’t believe the current administration have any better idea about what they're doing than that camel they used to predict the outcome of World Cup matches. What’s more, they aren’t the ones that will decide whether the stability is real or not, the markets will. Sterling seems a tad stronger overnight but the Gilt selling was strong on Friday. I fear lasting damage to a country who is a net borrower. Welcome to an emerging market economy.