Bank of England responds to Treasury Committee's questioning over bond buying intervention

Closely monitoring progress of LDI funds

Eve Maddock-Jones
clock • 5 min read

The Bank of England has written to the Treasury Committee detailing the causes and effects of its monetary intervention last week.

John Cunliffe, deputy governor for the Financial Stability for the Bank of England, responded to a letter sent by the chair of the Treasury Committee Mel Stride yesterday (5 October), requesting details of the temporary gilt purchasing programme it carried out last week. On 28 September, the central bank announced it would begin a temporary scheme of buying up to £5bn in long-dated conventional gilts until the 14 October 2022, triggered by a "significant repricing of UK and global financial assets" in the fall out of the government's latest fiscal policy announcement. The Bank of Engl...

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