Economists urge UK Chancellor to press Bank of England to slow bond sales
Healey is being asked to push the central bank to reduce gilt sales that economists say have cost billions in extra borrowing costs.
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.
Sources
- Bank of England urged to slow or halt bond-selling to slash UK borrowing costs — The Guardian — World
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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