The Bank of England is likely to delay the sale of billions of pounds of government bonds in a bid to foster greater stability in gilt markets following the UK’s failed “mini” Budget.
The bank had already delayed the start of its sale of £838bn of gilts bought under its quantitative easing programme from October 6 to the end of this month. It is now expected to bow to investor pressure for a further pause until the market becomes calmer.
The Financial Times has learnt that the bank’s top officials have come to this view after judging the gilts market to be “very distressed” in recent weeks, a view backed by its Financial Policy Committee.
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