Bank Of England Keeps Rate Unchanged At 0.5%, Asset Purchase Target At GBP 200 Billion

Tyler Durden's picture

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Transitory Disinflation's picture

Mervyn King looks and acts like Benny Hill.

 

"Fretting over deflation, the Old Lady's staff are in fact hedging their own pensions against inflation...

A NOTE DOING the rounds here in London points to a very smart move by the Bank of England's pension fund.

Analysts quoting the Guido Fawkes blog...which in turn was tipped off by Peter Oborne writing up an anonymous "source" in the Daily Mail...who also appears to have tipped off Investments & Pensions Europe magazine (IPE)...note a 12% gain in the Bank's pension fund between Mar. 2007 and Mar. 2008 – the latest figures revealed by Freedom of Information filings – thanks to "great market timing.

"The fund sold out of equities entirely, cutting a 21.6% holding down to 0.1% and thus avoiding a 35% drop in UK equities."

"

http://goldnews.bullionvault.com/bank_england_pension_fund_040120092

 

They are not worried about THEIRS!

 

 

Parallax View's picture

EUR dumpathon, I love it, that's sooooo funny! You guys are poets!