I don't even know to begin with this article, conflating lies and falsehoods into rationality. I certainly don't know where they get these M4 figures of less than 4% from. Perhaps they are talking about HPRs (Holding Period Returns) over 3 months, rather than 12 months, but the BoE's own released figures, if we can believe them, are currently showing M4 at approximately 18% per annum.
I suppose they are letting everyone assume they are talking about annual rates, when really they mean three monthly rates without clarifying the difference, but if they are, then this just underlines their crookedness.
As to the comments about the government being unable to sell their bonds unless the BoE buys them, I will speak no more, except to recommend that you read the thoughts of Chairman Robert Mugabe, of Zimbabwe, for further reflection.