Central Banks
BOE’s Bailey Has a Message for Funds: ‘You've Got Three Days’ to Wind Up Positions
- BOE governor says funds have three days to unwind positions
- Lobby group says bank hasn’t given investors enough time
This article is for subscribers only.
Bank of England Governor Andrew Bailey warned fund managers they have until the end of this week to wind up positions that they can’t maintain before the central bank halts its market support, triggering a selloff in the pound and US stocks.
“My message to the funds involved and all the firms is you’ve got three days left now,” Bailey said at the Institute of International Finance annual meeting in Washington on Tuesday. “You’ve got to get this done.”