the Bank of England bought a whole lot of mortgage backed securities and yesterday we find the same thing has happened here
According to Allan Kohler the RBA is swapping mortgage backed securities for some kind treasury bond and only charges 7%
the banks can lend the money out at 9%
Apparently that is the reason why bank prices rallied about 5% yesterday
the interesting thing about all this is that the RBA and the bank of England have to do this in the first place
Also it seems to be have done on the quiet
the Bank of England bought a whole lot of mortgage backed...
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$64.75 |
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| Open | High | Low | Value | Volume |
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