The Bank of England’s new bond buying programme will benefit electricity companies the most according to documents published by the bank yesterday. The £10 billion worth of debt the bank will be buying will be spread over many industries but the bank expects nearly a quarter will go the electricity firms. The package will get underway on the 27th of September in the hope of encouraging firms to borrow in sterling and reduce borrowing costs, however to be eligible, a firm must ‘make a material contribution’ to the UK economy and issue investment grade debt. This comes as news arrives that UK inflation in the year to August was 0.6%, slightly below analyst predictions which gives the governor more evidence to support the bond buying scheme.

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