https:\/\/www.bankofengland.co.uk\/markets\/market-notices\/2020\/apf-asset-purchases-and-tfsme-march-2020<\/a><\/p>\n\n\n\nOver recent days, and in common with a number of other advanced economy bond markets, conditions in the UK gilt market have deteriorated as investors have sought shorter-dated instruments that are closer substitutes for highly liquid central bank reserves. As a consequence, UK and global financial conditions have tightened.<\/p>\n\n\n\n
At its special meeting on 19 March, the MPC judged that a further package of measures was warranted to meet its statutory objectives.\u00a0 It therefore voted unanimously to increase the Bank of England\u2019s holdings of UK government bonds and sterling non-financial investment-grade corporate bonds by \u00a3200 billion to a total of \u00a3645 billion<\/strong>, financed by the issuance of central bank reserves; and to reduce Bank Rate by 15 basis points to 0.1%.\u00a0 The Committee also voted unanimously that the Bank of England should enlarge the Term Funding Scheme with additional incentives for SMEs (TFSME).<\/p>\n\n\n\nThis Market Notice sets out operational details for additional asset purchases and the change of terms relating to the TFSME. Other than as amended by this Market Notice, previous Market Notices relating to the Bank\u2019s gilt purchases, purchases of corporate bonds and TFSME will apply<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00a3200bn https:\/\/www.bankofengland.co.uk\/markets\/market-notices\/2020\/apf-asset-purchases-and-tfsme-march-2020 Over recent days, and in common with a number of other advanced economy bond markets, conditions in the UK gilt market have deteriorated as investors have sought shorter-dated instruments that are closer substitutes for highly liquid central bank reserves. As a consequence, UK and global financial conditions have tightened. At its special meeting […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3425","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/3425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3425"}],"version-history":[{"count":1,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/3425\/revisions"}],"predecessor-version":[{"id":3426,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/3425\/revisions\/3426"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}