BoE holds rates and reveals talks to sell gilts to Treasury
Economists voice concerns over blurred fiscal and monetary policies
The Bank of England has paused rates again at 3.75% in a 6–3 majority vote and revealed it approached the UK government last year to sell back its sovereign debt, in a stark modification to quantitative tightening (QT).
The monetary policy decision today (September 17) comes a day after the US Federal Reserve voted unanimously to hike the Federal Funds Rate by 25 basis points to a range of 3.75–4% and a week after the European Central Bank raised its key interest rate by the same amount to 2.50%
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