The Bank of England will resume from November 1 the sale of public debt, which had been forced to suspend at the end of September due to the financial instability caused by the Government’s tax relief plan.
The central bank delayed the start of this sale, scheduled for October 31, by one day, due to plans by Economy Minister Jeremy Hunt to present a detailed medium-term fiscal program that day.
In a statement, the entity explained that it will determine next Thursday the terms and dimensions of the auctions that it intends to carry out in the last quarter of the year, to begin to free itself from the acquired debt, with its quantitative easing program presented. in 2009, during the previous financial crisis.
The central bank has 838,000 million pounds (962,000 million euros) in government bonds.
Shortly after the start of this asset reduction operation, on November 3, its monetary policy committee will meet to, presumably, decide to raise the reference interest rate.
Source: TSF
