The Bank of England made £9.8bn last year on its £200bn "money printing" programme of quantitative easing to prop up the battered UK economy.
The accounts to the Bank's asset purchase facility fund for the year to February show the gain on the portfolio was due to "an increase in the market value of the [Bank's] gilt holdings". Gilt prices have risen as investors seek a safe haven for their funds. The gain reverses the £1.8bn deficit in the previous annual accounts, when gilt prices had fallen slightly. READ MORE...
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