£250Billion

[Gromit]

The Bank of England has made £250Billion available to UK banks who may suffer from the pound diving and our credit rating going negative.

You don't supposed the Government has had to borrow that?

[fiction-factory]

Isn't it just another form of quantitative easing where they just create (print) the money and they use it to buy sterling/shares to steady the market? It will come back to cost us in one way or another though. Maybe they expect to get it back by selling sterling and shares when the market recovers

[Old_Geezer]

I thought it was existing money held for just such a purpose. Is that not so ?
Anyway isn't the Bank of England an independent bank ?

[bazwillrun]

"isn't the Bank of England an independent bank ? "

in theory yes, but in practice takes "instructions/advice" from the "establishment" as and when....

[retrocop]

baz
A very warm and welcome back in from the cold. I understand you have been.......er .....resting! :-)

[bazwillrun]

haha...yeah forced to take my annual leave....

[Peter Pedant]

I agree grom grom

it has to come from somewhere - either printed as QE....
or raised in taxes in an emergency budget - blimey where have I heard that ?