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'Get this done!' BoE's Bailey gives UK funds 3-day deadline to fix problems

4:45 pm

Summary

Bailey stands firm on Friday deadline for gilt purchases
Sterling slides to near two-week low vs dollar after remarks
Bank of England says will buy index-linked gilts
BoE warns of 'material risk' to financial stability

WASHINGTON/LONDON, Oct 11 (Reuters) - Bank of England Governor Andrew Bailey said on Tuesday that British pension funds and other investors hit hard by a slump in bond prices had just three days left to fix their problems before the central bank would withdraw support.

Only hours earlier, the BoE expanded its programme of daily bond purchases to include inflation-linked debt, citing a "material risk" to British financial stability and "the prospect of self-reinforcing 'fire sale' dynamics".

more https://www.reuters.com/markets/europe/bank-england-buy-inflation-linked-uk-gilts-2022-10-11/