Bank tells Brits to buckle up for ‘longest recession in modern history’
The recession could last throughout 2023 and well into 2024.
Tag: Bank of England
Bank intervention prevented mass insolvencies of pension funds
Pension funds are natural buyers of long-dated gilts because they provide risk-free guaranteed income decades into the future.
Bank of England launches emergency gilt market operation to prevent borrowing costs from spiralling out of control
The Bank said: “Were dysfunction in this market to continue or worsen, there would be a material risk to UK financial stability."
Brace for financial crisis-style recession as Bank of England signs off biggest rate hike in nearly 30 years
Decision makers hiked the Bank’s base interest rate in the biggest single rise since 1995, as they tried to control the runaway inflation.