Market News
Bank of England allots record 75.65 billion pounds at short-term repo operation - REUTERS
LONDON (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)
