The Bank of England’s intervention in the UK government debt market was expected to cost £65 billion, with £5 billion in bond buying every day for a further 13 days.
Initial details of the size of the operation provided the main talking point in dealing rooms across London and beyond, while the former governor of the Bank of England, Mark Carney, said the government’s tax cuts were “working at some cross purposes” with the monetary policy being run out of Threadneedle Street.
