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Bank of England forecasts 150 billion pound QE gilt loss
The Bank of England forecast on Tuesday that it would make a net loss of just over 150 billion pounds ($193 billion) over the next 10 years as it unwinds its quantitative easing (QE) gilt purchases, up from 100 billion pounds projected in April. That loss will need to be funded by the government. Under the terms of the QE programme, which started in 2009 as a means to stimulate the economy after the global financial crisis, Britain’s finance ministry effectively received back the interest payments on government bonds bought by the BoE, but agreed to compensate it for any future losses. The BoE forecasts are based ... (full story)
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