UK pension funds uneasy with enlargement of quantitative easing

The Bank of England has cut interest rates by 0.25 basis points and re-launched its quantitative easing (QE) programme in a move set to cause further pain for the underfunded UK pension sector. Dan Mikulskis, managing director at consultancy Redington mentions in IPE that the bank’s announcement had seen long-dated Gilt yields decline by 10 basis points.