Bank of England halts bond sell-off

The Bank of England announced a comprehensive plan to overhaul and halt the excessive sales of Treasury bonds that have accumulated over the past decade, suspending its bond sales until next April and stopping the sale of long-term bonds. This move is part of an effort to support the British bond market, as yields fell following the announcement, alleviating pressure on the economy and financial authorities amid rising inflation and concerns over government deficits. Additionally, the central bank approved maintaining the interest rate at 3.75% for the sixth consecutive time, with expectations that this will reduce pressure on the bond market and strike a balance between fiscal sustainability and economic growth.

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