Bank of England completes sale of £19bn emergency bond purchases after mini-budget

Bloomberg estimates BoE made estimated profit of £3.5bn after intervening to prevent run on pension funds

The Bank of England has finished unwinding the emergency bond-buying scheme it launched to calm the turmoil in financial markets that followed Liz Truss’s disastrous mini-budget last autumn.

Threadneedle Street said it had completed the sale of £19.3bn of government bonds bought in autumn 2022 on financial stability grounds – three months after it was forced to intervene in markets to halt a run on pension funds.