The Bank of England today doubled down on its emergency bond buying scheme, saying it would purchase up to £10 billion a day and the Treasury brought forward the date of its next tax plan announcement -- to Halloween.
The BOE’s increase from £5 billion comes as the scheme, which was put in place after the government’s “mini budget” alarmed investors about the UK’s financial stability, enters its final week. City experts described the developments from Threadneedle Street and Whitehall as a “two pronged strategy” to reassure markets.
New York Markets were expected to fall further after Friday’s strong jobs report in the United States boosted expectations for further big interest rate hikes.
