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Bank of England Suspends Tightening Policy as Pound Nosedives | ATAF - All True American Friendship 🇺🇸 🤝 🇺🇸 ️🤝 🇺🇸

Bank of England Suspends Tightening Policy as Pound Nosedives — Central Bank to Start Purchasing Long-Dated UK Government Bonds

Following the extremely volatile European markets during the past few days and the euro and pound dropping rapidly against the U.S. dollar, the Bank of England has decided to intervene in bond markets. U.K. government bond yields have been erratic and the pound sterling also dropped to a lifetime low against the greenback. On Wednesday, the Bank of England noted that it was monitoring the “significant repricing” of U.K. assets very closely.

“This would lead to an unwarranted tightening of financing conditions and a reduction of the flow of credit to the real economy. In line with its financial stability objective, the Bank of England stands ready to restore market functioning and reduce any risks from contagion to credit conditions for U.K. households and businesses.”

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