Economics
Bank of England Breaks From ECB’s Effort to Curb Market Rates
- U.K. central bank is expected to maintain pace of QE purchases
- Governor Andrew Bailey says rising yields a signal of optimism
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The Bank of England this week is set to drift further away from the European Central Bank and other monetary institutions actively trying to rein in the surge in bond yields.
A week after the ECB pledged to speed up the pace of its asset purchases, BOE policy makers are expected to maintain theirs on Thursday. They are shrugging off an increase in market borrowing costs that pushed the yield on U.K. 10-year bonds to the highest since before the pandemic started last year.