Threadneedle Street received a return of approximately 20pc from the buyers who paid £23bn to buy the bonds.
Threadneedle Street received a return of approximately 20pc from the buyers who paid £23bn to buy the bonds.
The Bank of England announced its ninth consecutive increase in interest rates. This brings them to their highest level since before the global financial crisis.
Analysts predict a 0.75 percentage-point increase, possibly the largest hike in base rate since 1989.
They will provide commentary on expected further monetary tightening and reveal interest rate decisions, which have been the dominant influence on stock market behaviour this year.
Reuters polled economists over the past week to determine whether the Bank of England will increase interest rates by 75 basis points on November the third.
As the UK seeks to plug its funding gap, there are growing concerns in London regarding higher taxes being imposed upon banks.
The Bank of England issued a new statement, confirming Andrew Bailey’s remarks last night about its end of support for pension funds on Friday.
Expect bills to soar as Bank Rates could reach 4.5pc next Year.
Analysts say banks with ample liquidity will not offer higher interest rates to savers.
Official figures revealed Wednesday that the British consumer price inflation rose to 10.1% in July. This is its highest level since February 1982. It was 9.4% in June.
To keep inflation under control, policymakers increased interest rates by 0.5% to 1.75% on Thursday. This was in an effort to maintain a lid on inflation which is expected to