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Markets

Bank of England keeps 13.5bn pound weekly pace of gilt purchases

The central bank will hold three reverse auctions a day on Tuesday, Wednesday and Thursday, buying 1.5 billion poun
03 Apr 2020
  • The central bank will hold three reverse auctions a day on Tuesday, Wednesday and Thursday, buying 1.5 billion pounds of short-, medium- and long-dated government bonds at each.

LONDON: The Bank of England said on Friday it would buy 13.5 billion pounds ($16.57 billion) of government bonds from financial markets next week, the same as this week, as part of its plan to buy 200 billion pounds of assets to support the economy.

The central bank will hold three reverse auctions a day on Tuesday, Wednesday and Thursday, buying 1.5 billion pounds of short-, medium- and long-dated government bonds at each.

British government bond prices fell slightly after the BoE announcement, which unlike last week did not increase the pace of purchases.