The Bank of England denied that it would postpone the bond sales, and at the local level, the English currency stabilised ahead of the Egyptian pound. As a result, the price of the pound fell during trading today, Tuesday, 10-10-2022, by 1%, to approach its lowest level in 38 years at 1. 1262 dollars.
Following the Bank of England’s denial of the claims that it would delay the termination of its ownership of British bonds in order to provide a rest time for the markets, the British pound lost the gains it had made at the beginning of today’s deals.
The British Central Bank later came out to say that the report indicating that it is planning to postpone the sale of some of its British government bonds was “inaccurate,” which caused Low bond prices, contrary to what the Financial Times claimed. The Bank of England officials had taken the decision after the markets were described as “very sad.”
The Central Bank was scheduled to start sales on October 31 in the framework of the so -called quantitative tightening program and due to the potential risks of the stability of the financial system, the Bank of England has already postponed the start of quantitative tightening, which was scheduled to start on October 6.
Out of a total of 838 billion pounds from the gold bonds he retains, the Central Bank stated that it plans to complete around 80 million pounds of active sales next year.
Bank of Egypt: 22.09 and 22.46 pounds are available for sale.
Arab Investment Bank: 22.30 pounds available for purchase and 22.48 pounds available for selling.
The 22.09 and 22.46 pounds are available at the National Bank of Egypt.
Suez Canal Bank offers 22.24 pounds for sale and 22.48 pounds for purchase.
Today, Tuesday, October 18, 2022, during trading, the pound sterling fell.
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