Brussels/London — The Bank of England’s (BOE’s) surprisingly restrained tone on the economy has not gone down well with investors.

Both the pound and UK government bonds were sold off after the central bank said on Thursday it would slow the pace of its asset purchases, despite a £100bn boost to the size of the programme. With the BoE aiming to complete the programme later in 2020, its weekly bond-buying is likely to be about half its current £13.5bn binge...

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