Click to Enlarge
Facebook
Twitter
The Financial Times says the programme – which involves the injection of billions of pounds of newly-minted money into the economy – was intended to prevent a vicious cycle in which pensions funds have to sell bonds held as assets to pay their creditors, pushing the price further down and triggering more sell-offs. It quotes one senior banker saying: “I was worried [Wednesday] was the beginning of the end. It was not quite a Lehman moment. But it got close.”