Reversal of Long Standing Policy that Propped Up Equity Markets

The Bank of England takes the lead in launching the government bond sale program.The Bank of England will on Tuesday become the first major central bank to sell 838 billion pounds of government bonds accumulated during its 13-year stimulus package. Just a few weeks ago, the Bank of England was buying government bonds to ease market pressure. It now plans to auction the first batch of 750 million pounds of short-term bonds. The move is aimed at reversing the quantitative easing (QE) programme, which helped prop up the economy during the global financial crisis and outbreaks