Bank of England widens bond purchases over market turmoil

BSS/AFP

11 October, 2022, 01:20 pm

Last modified: 11 October, 2022, 01:20 pm

Bank of England widens bond purchases over market turmoil

BSS/AFP

11 October, 2022, 01:20 pm

Last modified: 11 October, 2022, 01:20 pm

City workers walk past the Bank of England in the City of London, Britain, March 29, 2016. REUTERS/Toby Melville/File Photo

City workers walk past the Bank of England in the City of London, Britain, March 29, 2016. REUTERS/Toby Melville/File Photo

The Bank of England on Tuesday unveiled yet more measures aimed at calming markets rocked by a UK budget, saying it would extend purchases of government bonds.

The news came as official data revealed British unemployment fell to a near 50-year low at 3.5 percent, although wages continue to be eroded by sky-high inflation.

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