Farage urges Bank of England boss to stop bond sales

Nigel Farage, the leader of the Reform UK party, has called on the Bank of England to halt its bond sales, arguing that the ongoing sell-off is increasing the government's borrowing costs. The Bank of England began selling off its government bond holdings in 2022 as part of its efforts to tame inflation. However, Farage believes that this move is having a detrimental effect on the government's finances, with the costs of borrowing rising as a result. In a letter to the Bank of England's governor, Andrew Bailey, Farage urged the central bank to reconsider its bond-selling strategy, arguing that it is putting unnecessary strain on the government's budget. The article does not provide any further details on the specific impact of the bond sales on the government's borrowing costs or the broader economic implications of Farage's request. It remains to be seen whether the Bank of England will heed Farage's call and adjust its approach to bond sales.