Most Popular

- Advertisement -

categories

Lorem ipsum dolor sit amet, consectetur adipiscing elit. 

Highlights

Technology

Global Powers in 2024: Technology, Military, and Economic Influence Unpacked

As we delve into 2024, the landscape of global power is shaped by a complex interplay of technological advancements, military capabilities, and economic influence. Understanding the dynamics among leading nations requires an examination of their strategic priorities and how they leverage their strengths to assert influence on the world stage. This article unpacks the multifaceted nature of global powers, highlighting the key players in technology, military strength, and economic dominance.
Ticketing system 1

Tickets ‘broken’ after Oasis ‘chaos’, resale site chief alleges

Viagogo's business development manager, Matt Drew, stated that Saturday's ticket sale for the band's first shows in 16 years "descended into chaos."A senior official at a resale site has stated that the ticketing system for shows, including next summer's Oasis concerts, is "broken."Viagogo's business development manager, Matt Drew, said Saturday's ticket sales for the band's first shows in 16 years "descended into chaos."
- Advertisement -
Selected menu has been deleted. Please select the another existing nav menu.

Today, the Bank of England will end its government bond-buying program.

Share It:

Table of Content

Pressure on gilts, or UK government bonds, eased on Thursday as the Bank of England increased its bond-buying activities to stabilize market sentiment.

After attempting to calm the UK’s financial markets, the Bank of England will cease its government bond-buying program today.

After the chancellor’s mini-budget sparked panic in the markets and a potential pension pots crisis, the Bank initiated the unprecedented action.

It committed to purchasing up to £65 billion worth of government bonds, sometimes known as gilts, from sellers.

The government issues bonds to raise revenue for public expenditures, which are frequently used to service pension funds and the market for life insurance.

Today, the Bank of England will end its government bond-buying program.

Banks and large financial institutions that purchase gilts at auction from the government can resell them to smaller financial institutions, traders, and investors on the open market.

If investors believe the government will be able to repay the debt when the bond matures, the rate at which the bonds are bought and sold will increase.

However, when trust in the British economy declines, so does the price of bonds.

As a result, the yield, interest rate, and cost of borrowing increase, as investors strive to protect their capital.

How much did the Bank of England invest in bonds?

The scheme implemented by the Bank of England was intended to restore confidence in the government’s finances by boosting bond prices and cutting the government’s bond yield obligations.

Initially, it appeared that the Bank’s action pushed yields on these gilts lower.

However, yields reached 5.1% on Wednesday, the same level they achieved before the Bank’s initial intervention.

As part of the scheme, the Bank purchased approximately £4.35 billion in bonds on Wednesday and £4.7 billion on Thursday to assist calm the markets.

It takes total bond purchases to £17.8 billion.

It ultimately aided in the stabilization of pension funds at a time when they were already under a great deal of pressure from global financial difficulties.

Another U-turn is likely

Now, Chancellor Kwasi Kwarteng and Prime Minister Liz Truss are under pressure to reinstate the proposed April hike in company tax.

In anticipation of a government U-turn on corporate tax, the chancellor said Thursday night that he will return to the United Kingdom from the United States earlier than expected.

After Bank of England Governor Andrew Bailey alarmed the markets by declaring that emergency funding would not be extended, the widely anticipated action appeared to comfort the financial sector.

Mr. Kwarteng has also stated that there will be “no significant cuts to public spending,” perhaps echoing the sentiments made by the Prime Minister in the House of Commons on Wednesday.

The government’s policies are centered on promoting economic growth, with a target of a 2.5% yearly increase in gross domestic product.

The important date will be October 31, when the Office of Budget Responsibility predictions and the chancellor’s statement will provide an assessment of the feasibility of such a strategy.

Tags :

Creative Media News

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Creative Media News is your premier source for the latest updates in finance, technology, and world events. Our dedicated team of journalists delivers in-depth analysis, breaking news, and expert opinions to keep you informed and engaged. Whether you’re interested in stock market trends, innovative tech, or global affairs, we’ve got you covered. Stay ahead with our reliable, timely, and insightful content. Join our community of readers who trust Creative Media News for accurate, up-to-date information. Follow us for daily updates and stay connected with the world’s most important stories.

Useful Links

Selected menu has been deleted. Please select the another existing nav menu.