The UK government transferred nearly £45 billion to the Bank of England to cover losses from its bond-buying program, part of a £85 billion expected lifetime loss. These losses result from rising interest rates and the devaluation of gilts on the Bank's balance sheet. Higher borrowing costs have also increased the Bank's interest payments to commercial banks. Rachel Reeves and other figures have suggested altering the Bank's interest payment system to reduce fiscal burdens, but the government hesitates, fearing economic disruption. The Bank's monetary policy committee will soon decide on interest rates and possibly adjust the pace of bond sales.