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UK Govt transferred over 14bn GBP to the BoE, largest transfer ever, to cover QE losses

The UK Treasury sent over 14.3bn GBP to the Bank of England in July, which is the biggest state transfer on record, to cover losses on the Bank's QE stepstransfers have totalled more than 30 bn GBP in the past 11 monthsNumbers come from the UK's Office for National Statistics.-As part of its QE program the BoE bought UK government bonds with £875 billion it created between 2009 and 2021those gilts pay a fixed interest rate to the bankthe money it created (“central bank reserves”) is held by comm... Read More

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Govt

Transferred

Over

14bn

Boe

Largest

Transfer

Ever

Cover

Losses

Forex

Posted: Aug 22 2023, 23:07

Author Name: forexlive

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