LONDON (Reuters) – Bank of England policymaker Catherine Mann said on Saturday that bond purchases by the central bank in the days following the government’s ‘mini-budget’ fiscal plan last month to calm financial markets were ‘very targeted and be temporary”. “
“The financial stability approach, the financial stability requirements, were very focused and temporary,” Mann said during an event organized by the Marshall Society at the University of Cambridge.
The BoE announced it would intervene in the UK government bond market on September 28 after prices tumbled following the announcement of planned tax cuts by former Finance Minister Kwasi Kwarteng. The purchase program ended on October 14.
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Reporting by William Schomberg, writing by Muvija M
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