Looming BOE Decision Casts £4 Billion Shadow Over UK's Budget
A decision that the Bank of England has to make in the next few months is posing a £4.3 billion ($5.8 billion) threat to Chancellor of the Exchequer Rachel Reeves' spending plans.
By September, the BOE will announce the pace at which it will offload the gilts it owns next year under so-called quantitative tightening. The central bank has been shrinking the portfolio by £100 billion ($135 billion) a year but pressure is mounting to scale back the run-off amid strains in the UK government bond market.
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