The Bank of England's bond-buying program is due to end on October 14th. Andrew Bailey made it clear this week that he does not want to extend the program. The central bank cannot ignore massive market turmoil, writes Simon Tisdall. He says if pension funds continue to sell assets in fire sales there will be a need for more intervention.
Paroxysms in the market for gilts—British-government bonds that were once safe-haven assets—reveal just how wounded the new government’s plans have left it. Cuba is experiencing the worst economic crisis in decades, and those who are not protesting are heading for the door. And making the case to let your lawn go wild.
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