Economists urge Bank of England to slow or halt gilt sales to reduce UK borrowing costs
Source Summary
Economists have called on UK Chancellor John Healey to pressure the Bank of England to slow its bond-selling programme, which has already cost the exchequer billions of pounds. The Bank's monetary policy committee is meeting this week to decide on interest rates and whether to freeze or slow the sale of government bonds (gilts) that were purchased following the 2008 banking crisis.
Why it matters
The Bank's bond-selling programme directly affects UK government borrowing costs, and economists argue that slowing or halting sales could reduce the financial burden on the public exchequer.
