London | The Bank of England is scrambling to avoid a cliff-edge later this week in its fortnight-long bid to save the British bond market, boosting the firepower of its intervention and adding new weapons to avoid a meltdown at pension funds.
The BoE’s aim is to ensure that British sovereign bond prices do not again go into freefall – what it has again called “market dysfunction” – when its £65 billion ($114 billion) emergency bond-buying program ends this Friday.
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Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
