27.07.2023 - 23:50 [ CityAM.com ]

Taxpayer to hand over £150bn to Bank of England to cover QE losses

According to a quarterly report by the Bank on its asset purchase facility – the vehicle it uses to hoover up UK debt on financial markets – losses from bond purchases are poised to balloon by the early 2030s.

After the 2008 financial crisis, the Bank of England started purchasing UK government and corporate debt from financial institutions in an effort to stimulate the economy by pushing down yields.