Bank of England wraps up Mini Budget bond-buying programme

£19.3bn in bonds sold

The Bank of England has wound up the bond-buying programme that it began in September to stabilise the UK markets following the government's Mini Budget.

In a statement yesterday (12 January), the bank said that it had completed its sales of the £19.3bn of temporary holdings of UK government bonds that had been purchased in Autumn last year. The purchases were made "to restore orderly market conditions following dysfunction in the UK gilt market," the Bank said, after the market experienced extreme volatility in response to then-Prime Minister Liz Truss' Mini Budget. Between 28 September and 14 October, the central bank began a temporary operation of quantitative easing, before unwinding the purchases from 29 November. At the time, ...