9/28/2022, 6:07 PM (Source: TeleTrader)
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BoE buys £1.03B worth of bonds on September 28

The Bank of England announced on Wednesday that it bought £1.03 billion worth of United Kingdom government bonds in a reverse auction on September 28.

The bank received offers to buy gilts worth a total of £2.59 billion but said it "has exercised its discretion not to allocate some offers in today's operation."

The BoE specified it will buy "gilts of residual maturity greater than 20 years in the secondary market" in order "to restore orderly market conditions." The bond-buying program, financed by central bank reserves, will run until October 14.

Baha Breaking News (BBN) / MS