WASHINGTON, Oct 12 Bank of England (BoE) Governor Andrew Bailey said yesterday that British pension funds and other investors hit hard by a slump in bond prices had just three.
Bank of England Governor Andrew Bailey said that British pension funds and other investors hit hard by a slump in bond prices had just three days left to fix their problems before the central bank would withdraw support.
The Bank of England again sought to stem a sharp sell-off in Britain s 2.1 trillion pound ($2.3 trillion) government bond markets on Tuesday, expanding its emergency buying to inflation-linked debt.
British pension funds with big losses in gilt market derivatives have sought emergency funds from the companies they manage money for as they race to dump assets to raise cash, industry sources. | September 30, 2022