Bank of England boss defends Government bond-selling policy against critics

Bank of England boss defends Government bond-selling policy against critics

Andrew Bailey said the process of offloading debt was giving the Bank capacity to defend against future economic shocks.

Bank of England's Bailey defends bond sale programme

Andrew Bailey has launched a robust defence of the Bank of England’s controversial bond sale programme, arguing it will provide the firepower for another round of quantitative easing in a market downturn. Writing in The Times, Bailey argued the central bank’s move to hoover up UK government bonds, known as gilts, in the wake of the financial crisis and coronavirus pandemic staved off mass unemployment and propped up the UK’s ailing economy. He a…