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Podcast: Beyond Currency
Episode: 24 August 2022 - BoE unwinding stimulus purchases
Description: The Bank of England is continuing to shrink the size of its balance sheet by selling off assets bought as part of its support for the economy during the Pandemic.
It will sell off £200 million in corporate bonds per week starting next month. As part of its programme of quantitative easing, the Bank bought around £20 billion of bonds from non-financial entities following the Brexit referendum and the Pandemic.
These sales are dwarfed by the ongoing divestment of Government Bond holdings, which are currently being reduced by £40 billion a month. This is being achieved by not reinvesting the proceeds of maturing pap...