Bank of England urged to slow bond-selling plan to help cut record UK borrowing costs

Ex-MPC members say ‘quantitative tightening’ should be scaled back or halted entirely, saving the Treasury up to £10bn a year

Andrew Bailey has been urged by former Bank of England policymakers to ease pressure on the government’s borrowing costs by cutting back its bond-selling plans.

In a crunch week for the economy, four influential ex-members of the Bank’s monetary policy committee (MPC) said a change in course was needed.