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Bank of England allots record 75.65 billion pounds at short-term repo operation

The BoE has increasingly used 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 75.652 billion pounds ($102.20 billion) in seven-day funds in its weekly short-term repo operation, higher than a previous record of 74.225 billion pounds set in July.

The BoE has increasingly used its short-term repo operations as a way to provide banks with reserves as it runs down the stockpile of government bonds which it bought under its quantitative easing programme.

($1 = 0.7402 pounds)

Writing by William Schomberg; editing by David Milliken

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