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The Guardian - UK
The Guardian - UK
Business
Phillip Inman

The Bank of England’s lifeboat is in choppy waters with its bond buying

People walk past the Bank of England
The Bank of England has widened the scope of an emergency facility to include £5bn of index-linked bonds. Photograph: Tolga Akmen/EPA

Pension funds have found themselves embroiled in a byzantine world of exotic financial trading that many of them appear to have badly misunderstood.

On Tuesday, a third rescue mission in little more than a fortnight was announced by the Bank of England, which is reprising its role in the 2008 financial crisis as the City’s lifeboat.

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