LONDON, Oct 8 — Financial markets, which have rebounded recently on low global interest rates and vast economic stimulus during the coronavirus pandemic, could be in for a “sharp” correction, the Bank of England warned today.
Like other central banks around the world, including the US Federal Reserve, the BoE launched a massive asset-purchasing programme, buying up corporate bonds, that helped to fuel a rally in global markets. Those valuations “could correct sharply if, for example, market participants re‐evaluate the prospects for growth, inflation or interest rates,” it said.
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