The purchases will be part of the government’s so-called quantitative easing strategy (printing money). The Bank of England started buying commercial paper in February and government bonds last month, sending 10-year gilt yields to a record low.
All this on the same day that the Government posted its biggest budget deficit on record. Total borrowing for the 11 months of this fiscal year reached a record £75.2 billion - three times higher than at the same point in the previous year. Times