What is the Bank of England interest rate today?
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Nobel Prize Winning Economist & Stanford Professor Paul Romer on Hyperinflation & Protecting Science
Apparently it appears as if central banks can’t drop Quantitative Easing. Moreover the solution appears to be never ending printing of more paper currency.
Firstly, let’s take a look at United Kingdom long bonds this morning. Furthermore, they are now headed for their biggest ever rally!! As a result of the the Bank of England’s decision to announce that it would carry out temporary purchases of long-dated UK bonds. In addition, it would delay planned sales of debt.
As a a result of this move the current yield on 30-year gilts plummeted as much as 65 basis points to 4.34%.
This was the largest drop in interest rate on record according to the data that goes back to 1996. As a result, that erased an earlier decline Wednesday. In addition, came after heavy selling in recent sessions fueled by concerns over the government’s fiscal spending plans and selling from pension funds facing margin calls.
Bloomberg LP screenshot
What is the Bank of England interest rate today?
