Bank of England to Double Long-Dated Gilt Buy-Backs, QE Policy to See an 'Orderly End' in Mid-October
After the British pound sterling tapped an all-time low against the U.S. dollar on September 26, the Bank of England (BOE) said it would halt its monetary tightening policy and start buying long-dated bonds again. Approximately two weeks later, the BOE detailed on Monday that it was doubling the size of its debt buy-backs by purchasing large sums of gilt-edged securities (bonds). BOE to Double Bond Purchases, UK Central Bank Adds New Temporary and Permanent Repo Programs to Enhance Liquidity 16 days ago, the British pound sterling reached a lifetime low against the greenback and the central bank of England decided to step into the fray and bolster the U.K.’s economy with stimulus programs. On September 28, Bitcoin.com News reported that the Bank of England decided to stop monetary tightening and it said it would start to purchase long-dated gilts, otherwise known as bonds. Two weeks later, the BOE changed its mind and decided to double its efforts in terms of purchasing gilt-e...