Carney Enters Corporate Bond Market in Post-Brexit Stimulus Push
- BOE will hold reverse auctions to purchase bonds from 11 a.m.
- GE and Rio Tinto notes sought on Tuesday with Apple to follow
This article is for subscribers only.
The Bank of England will start purchasing corporate bonds on Tuesday, opening another front in efforts to cushion the U.K. economy from potential shocks following the nation’s vote to leave the European Union.
The central bank will seek to buy notes issued by companies including General Electric Co., United Utilities Group Plc and Rio Tinto Plc, according to a list distributed last week. Purchases will be made through reverse auctions starting at 11 a.m. in London.