Bank of England Expands Emergency Support for UK Bond Market

The Bank of England increased its support for the UK bond market, which had been shaken by the government's unfunded tax cuts, in an effort to stop a $1 trillion decline in the portion utilised by the pensions sector.

The action taken by the UK central bank aims to bring an orderly conclusion to the week's emergency purchases and to offer longer-term support for a wider range of securities in the coming days.

pressure on Prime Minister Liz Truss and Chancellor of the Exchequer Kwasi Kwarteng to restore investor confidence after a budget announcement last month caused a decline in the value of assets denominated in sterling. 

 The BOE's scheme could help increase demand for corporate lending.

According to fund manager Bob Stoutjesdijk at Robeco Institutional Asset Management, the measure will soon be beneficial.

Employers in the United States created 263,000 new jobs in September.


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