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BoE will weigh market conditions when setting gilt sales: Pill


BoE will weigh market conditions when setting gilt sales: Pill By Reuters

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Economy 13 minutes ago (Sep 07, 2022 12:11)

© Reuters. FILE PHOTO: Pedestrians walk past the Bank of England, in London, Britain, August 8, 2022. REUTERS/Toby Melville

LONDON (Reuters) – The Bank of England will take conditions in the gilt market into account when it announces later this month how many government bonds it will sell as part of its quantitative tightening (QT)programme, chief economist Huw Pill said on Wednesday.

“The quantities that will be considered (for quantitative tightening) when it comes to the confirmatory vote next week have taken (market conditions) into account,” Pill told lawmakers.

Gilts have been subject to a sharp sell-off in recent weeks.

Rate-setter Catherine Mann, also appearing at parliament’s Treausry Committee on Wednesday, said market prices were an important factor in judging “digestibility” of QT.

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