Do the Banks Have to Buy the Bonds?

When they do quantitative tightening, they take money out. So there's a big pool of money sitting there and they say, listen, we're going to take 5% of that out every year. That less money around. The idea is it pushes up wages or all the banks have to buy these bonds now from the government. And so then they buy these bonds and they've got less money left to lend and do other activities with. But if you don't have much money because you're feeling a bit tight yourself, you're either not going to lend it to or charge a bit more money. It's basically as simple as that.