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Bank of England intervenes in UK bond market to stem rout

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Reuters UK

By David Milliken LONDON (Reuters) -The Bank of England said on Wednesday that it would buy as many long-dated government bonds as needed between now and Oct. 14 to stabilise financial markets, after a slump in British gilt prices since a government fiscal statement on Friday. Citing potential risks to UK financial stability, the BoE also said it would delay the start of a programme to sell down its 838 billion pounds ($891 billion) of government bond holdings, which had been due to begin next week. It added that it remained committed to an 80 billion pound reduction over the next 12 months in…

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