Bank of England allots record 40 billion pounds in weekly repo

investing.com 05/09/2024 - 09:50 AM

Bank of England Repo Operations

(Reuters) – The Bank of England allotted a record 40.29 billion pounds ($53.02 billion) in its weekly short-term repo on Thursday, which is an increase from 36.584 billion pounds last week.

Repos, or repurchase agreements, enable banks to temporarily exchange government bonds they own for central bank cash, assisting in keeping market interest rates aligned with the BoE’s policy rate.

($1 = 0.7599 pounds)




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