BoE prepares more market support as cliff edge looms

Bank of England
Bank of England
Photo: Juno Snowdon Photography

The Bank of England has broadened its measures to support the functioning of the gilt market, as the cut-off point for its temporary asset purchases looms.

The BoE said today (October 10) it would “stand ready” to buy more than the £5 billion ($5.5 billion) daily ceiling it has set since September 28. Today’s operation was capped at £10 billion, but as on previous days, offers fell significantly short of the maximum, totalling £853 million (see figure 1).

The central bank has also launched a

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