Economists urge UK Chancellor to press Bank of England to slow bond sales

Economists have urged Chancellor John Healey to press the Bank of England to slow its bond-selling programme, which they say has already cost the exchequer billions of pounds. The Bank's monetary policy committee meets this week to decide interest rates and whether to freeze or slow the sale of government bonds, or gilts, originally purchased during the 2008 banking crisis rescue.

The call comes as the UK government faces pressure to reduce borrowing costs amid wider fiscal constraints.