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.
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.
After Chancellor Kwasi Kwarteng’s hint at further tax cuts, the pound fell to an all-time low against the USD.
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.
The battered British pound plunged to its lowest level since 1985 against the U.S. Dollar on Wednesday. This was due to investors selling off British assets amid a grim economic
This week, the Bank of England is expected to announce its strategy for releasing some of the £895 Billion ($1.1 Trillion) of stimulus that it has provided over the past