- Posted on October 12, 2022
- News
- By FC Team
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KEY POINTSA Financial Times report, citing anonymous sources, said the Bank of England has privately signaled a willingness to extend its emergency bond buying.That came after BOE Governor Andrew Bailey said the central bank would end the rescue program on Friday as planned.The BOE in late September said it would delay its plan to sell U.K. government bonds and buy long-dated bonds for two weeks as part of emergency measures to calm the market.The British pound on Wednesday morning recovered losses slightly following a Financial Times report that said the Bank of England is privately signaling a willingness to extend its emergency bond-buying program.The report, which cited anonymous sources, came on the heels of comments by BOE Governor Andrew Bailey who said the central bank would end the rescue program on Friday as planned.Speaking at an event organized by the Institute of International Finance in Washington, D.C., late Tuesday, Bailey said that “part of the essence, I think, of a financial stability intervention is that it is clearly temporary.”The Bank of England did not immediately respond to CNBC’s request for comment on the FT’s report outside of office hours.The pound fell as low as $1.0922 in Asia’s morning trade before popping to $1.106 after the FT report was published. It was trading at $1.0988 by 6 a.m. London time Wednesday. CNBC.com