Andrew Bailey, governor of the Bank of England, has warned pension funds that they have three days to sort out their liquidity before its emergency bond buying support ends.
Speaking at an event in Washington, Bailey said: "We will be out by the end of the week. We think this rebalancing must be done and my message to funds and firms involved is that you have got three days to get this done." The comments come in the face of pleas yesterday (11 October) from the pensions industry for the bank to continue its emergency support amid fears of another bond selloff when the backstop is removed. IMF warns of global recession risk while criticising Mini Budget This was despite the central bank expanding its emergency bond buying to include index-linked gilts ...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
