Wednesday 12th October 2022
The Bank of England has been buying up more government bonds as it fights uncertainty in UK markets. NAB’s Ken Crompton says it’s no surprise that they have had to target 30 year inflation-linked bonds, as they constitute a large proportion of the stock held by the pension funds the bank is trying to protect. But, with devastating opinion polls and a rebuff of their budget plans by the IMF, expect more UK uncertainty in the weeks ahead. Meanwhile, in Australia the gap between consumer and business expectations has widened further, we look at why that is.