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Bank of England allots record 87.15 billion pounds in short-term repo

The central bank is using increasingly its short-term repo operations as a way to provide banks with reserves

International News via Reuters:

The Bank of England on Thursday allotted a record 87.149 billion pounds ($117.19 billion) in seven-day funds in its weekly short-term repo operation, higher than a previous record of 83.085 billion pounds set two weeks ago.

The central bank is using increasingly its short-term repo operations as a way to provide banks with reserves as it runs down its stockpile of government bonds bought under its quantitative easing programme.

($1 = 0.7437 pounds)

Writing by William Schomberg, Editing by Paul Sandle

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