BoE can carry on with bond sales programme, Ramsden says

The Bank of England can carry on with its programme of bond sales - known as quantitative tightening - over the coming year, Deputy Governor Dave Ramsden said on Thursday.

"We're confident that QT can keep operating in the background, for the next year, consistent with our principles," Ramsden said at a press conference after the BoE cut interest rates for the first time since 2020.

"And given where Bank Rate now is, if there needs to be some kind of adjustment, we've got more than enough space to do that," he said.

In its latest report, the BoE repeated its view that the impact of its QT sales so far had been limited, but it said the high level of interest rates would allow it to fine-tune monetary conditions if the impact proves greater in future.