Thursday, 12 March 2009

Stampede to sell UK gilts

Investors flocked to sell government bonds to the Bank of England as it launched an unprecedented programme to expand the money supply. The success of the Bank’s so-called reverse auction, in which investors sell their bonds rather than buy them from the authorities, augurs well for the Bank’s historic quantitative easing move to buy up to £75bn in gilts over the next three months.

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