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Bank of England to buy up to 5 billion pounds of gilts a day

Bank of England to buy up to 5 billion pounds of gilts a day
Bank of England to buy up to 5 billion pounds of gilts a day Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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LONDON - The Bank of England said it would buy up to 5 billion pounds ($5.31 billion) a day of British government bonds with a residual maturity of at least 20 years, starting on Wednesday, in order to restore stability to the gilt market.

The first reverse auction to purchase the debt will take place from 1400 to 1430 GMT, with subsequent auctions on week days between 1315 and 1345 GMT, the BoE said in a statement to markets.

($1 = 0.9410 pounds)

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