Business this week

The Bank of England hit a problem on the second day of its expanded quantitative-easing programme when it fell £50m short in its attempt to buy £1.17 billion ($1.5 billion) in bonds with maturities of 15 years or longer. It was the first daily shortfall since the central bank started QE in 2009. Amid signs that Britain’s post-Brexit economy is weakening the bank has pledged to buy £60 billion in government bonds and up to £10 billion in corporate bonds over the next 18 months (it has also cut interest rates). Pension funds hold most of the bonds dated 15 years or longer, which have better returns than shorter-dated ones. See article.