Bank of England
March 5th, 2009 8:25 am | by John Jansen |The Bank of England reduced its base rate by 50 basis points and announced it will purchase gilts.
http://www.bankofengland.co.uk/publications/news/2009/019.htm
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4 Responses to “Bank of England”
By Sharon on Mar 5, 2009 | Reply
But we knew this was coming, didn’t we? So it’s likely already built into the economy.
By Alex on Mar 5, 2009 | Reply
Sharon,
Why do you think gilt yields have held up so well until today, if it was so widely anticipated?
By Sharon on Mar 5, 2009 | Reply
Search me, Alex. I’m no seer myself.
By Alex on Mar 5, 2009 | Reply
This is the most likely explanation I could find.
“Overall, the BoE’s gilt purchases over the next three months appear to be quicker and more aggressive than people expected,” said Alan Clarke, UK economist at BNP Paribas. “They are giving no specific target for the money supply but they probably have one in mind.”