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Fed’s Mester: Bank of England navigated stressful chapter well

Fed’s Mester: Bank of England navigated stressful chapter well By Reuters

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Economy 4 minutes ago (Nov 10, 2022 18:56)

© Reuters. FILE PHOTO: A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. REUTERS/Maja Smiejkowska

(Reuters) – Federal Reserve Bank of Cleveland President Loretta Mester said on Thursday the Bank of England did well navigating a recent round of market stress.

In restarting asset buying to tackle a period of heavy market stress last month, “that was a very difficult challenge, and I think (Bank of England officials) pulled that off very well,” Mester said.

Restarted Bank of England bond buying courted criticism from some quarters as it pushed back against the institution’s ongoing work to quell high levels of inflation.

Fed’s Mester: Bank of England navigated stressful chapter well

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