Rate markets had lucky escape from August stock crash, says BoE
FPC minutes suggest spillover might have occurred were it not for positive macroeconomic news
The volatility in equity markets in early August could have spilled over into core rate markets if not for the positive economic news that followed from the US, the Bank of England’s financial policy committee (FPC) has argued.
The official record of the FPC’s September meeting, published today (October 2), notes that the turmoil across global financial markets was short-lived and did not extend to core rates markets, such as the repurchase market.
The volatility was triggered by weaker-than
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