The cliff edge looms for the UK’s financial system

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Analysis: BoE’s move to end bond buying is a big gamble given the magnitude of the bind Britain is in

Britain’s financial system is approaching a cliff edge. After stepping in to calm the market chaos that followed Kwasi Kwarteng’s mini budget, the Bank of England has insisted it will close the £65bn emergency scheme used to smooth over the mess.

From Friday, the central bank plans to halt its rescue purchases of UK government bonds, in a market where funds managing the retirement savings of pensioners across the country still risk being dangerously burned.

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 ALL Credit of this post going to https://www.theguardian.com

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