BOE says earlier report on possible delay to QT is 'inaccurate'

This relates to the earlier report here. I think it would depend on what exactly they will define as being 'inaccurate' but the pound did retreat a little on the news to a low of 1.1286 before keeping back around 1.1315 now - down 0.3% on the day.

There was also a brief jump in gilt yields, with 30-year yields moving up to 4.48% before keeping around 4.42% now - up 5 bps on the day.

Delaying QT is surely the right approach considering the recent fiasco and the damage to liquidity Liquidity Liquidity refers to the extent of a financial instrument’s ability to be bought or sold without causing price fluctuations. Thus, if an asset is extremely liquid, it means one can trade that asset in the knowledge that one’s specific dealing won’t create significant movements in the market.This is because there exists such a large number of traders going both long and short, generating huge volume for that particular asset. Liquidity in the FX MarketTake the example of the foreign exchange marke Liquidity refers to the extent of a financial instrument’s ability to be bought or sold without causing price fluctuations. Thus, if an asset is extremely liquid, it means one can trade that asset in the knowledge that one’s specific dealing won’t create significant movements in the market.This is because there exists such a large number of traders going both long and short, generating huge volume for that particular asset. Liquidity in the FX MarketTake the example of the foreign exchange marke Read this Term in gilts. As such, trying to portray otherwise is a bit of a head scratcher. Mind you, 30-year yields are still some 92 bps higher than before the mini-budget announcement by Truss and Kwarteng last month.