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Pension fund panic led to Bank of England's emergency intervention: Here's what you need to know

CNBC Finance LogoCNBC Finance1 mo ago

Pension fund panic led to Bank of England's emergency intervention: Here's what you need to know - CNBC Finance

Quick Summary:

The Bank of England on Wednesday launched a historic intervention to stabilize the U.K.economy.

LONDON – The Bank of England launched a historic intervention to stabilize the U.K.economy, announcing a two-week purchase program for long-dated bonds and delaying its planned gilt sales until the end of October.

The move came after a massive sell-off in U.K.government bonds — known as "gilts" — following the new government's fiscal policy announcements Friday.


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Category: MarketsFinanceInvesting

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-10-06 @ 18:16:08 (1 months ago)

News Timezone: GMT -5:00

Ranking: #730 (out of 3344 stories this day)

News Source URL: cnbc.com

Language: English

Article Length: 1394 words

Reading Time: 8 minutes read

Sentences: 40 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CNBC Finance

News ID: 765931

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Main Topics: MarketsFinanceInvesting

Official Website: cnbc.com

Update Frequency: 2 posts per day

Year Established: 2005

Headquarters: United States

News Last Updated: 1 days ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

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Publisher ID: #6

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