BANK OF ENGLAND Quells Stock Market Panic?

By Staff Reporters


Bank of England steps in to soothe markets. The Bank of England moved to quell the market panic caused by the British government’s recent announcement of major tax cuts, saying it would buy 65 billion pounds ($69 billion) worth of bonds and push off its plans to sell bonds to prevent “a material risk to UK financial stability.”

So, it looks like the central bank did manage to get investors to keep calm and carry on: The pound, which had been crashing, stabilized and bond markets across the globe rallied after the news came out.


UPDATE Bounce Fades?


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