Quote Originally Posted by DryCleaning View Post
Perhaps you forget the QE from ten years ago, this buy back of gilts was always going to happen, it just so happens to be happening now. Poor political timing, of course. But pretty much planned. And it makes the lesser educated feel as if the Tories are to blame, which isn't a bad thing.

The BoE is planning that the gilt buyback will reduce inflation as liquidity is removed from the system. I doubt the markets will be affected as this buy back will have already been factored into long bond pricing.
As a “lesser educated” type I must confess to thinking this fiasco was down to years of Conservative economic mismanagement, the Brexit disaster stripping every inch of resilience from the economy, the Tufton Street mob and their hidden backers and Tory press holding undue influence over UK political policy, Crispin Odey and his hedge fund pals gloating as they short the pound and bet on the bond markets and f*ck the pensions of millions of ordinary workers etc etc. But no I was wrong and instead must blame an unfortunate co-incidence - that this crisis is ENTIRELY due to a buy back of gilts dating from quantitative easing 10 years ago which just happens to coincide TO THE DAY with what pretty well every respected economist and many, many Tory MPs consider to have been a weapons-grade disaster Trussonomics budget from the Chancellor Kwasi Kwarteng. Who knew?!