Economy

Stocksak targeted and temporarily purchased bonds for stability in order to meet their needs.


© Stocksak. FILEPHOTO: A view of the Bank of England building in London, Britain on August 4, 2022. REUTERS/Maja Smiejkowska

LONDON, Stocksak – Bank of England policymaker Catherine Mann claimed that bond purchases made by the central bank in the wake of the “mini-budget fiscal plan” last month to calm financial market volatility were “very targeted and only temporary.”

Mann stated that the Marshall Society at Cambridge University had organized an event titled “Financial stability approach, the requirements to financial stability was very specific, and temporary.”

After prices fell following the announcement of tax cuts by Kwasi Kwarteng (ex-finance minister), the BoE announced that it would intervene on Britain’s bond market. Its purchase programme was terminated on October 14.

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