The Bank of England begins large-scale bond sales
2022.11.23 13:33
The Bank of England begins large-scale bond sales
Budrigannews.com – On Wednesday, the Bank of England provided operational details regarding its plans to begin selling some of the long-dated, index-linked gilts worth 23 billion pounds that it purchased a month ago to stabilize financial markets.
Contrary to its fixed auction schedule for selling gilts purchased for the purposes of quantitative easing, the central bank had previously stated that sales would begin in the week beginning November 29 and that the volume sold would depend on demand from investors.
The announcement on Wednesday confirmed this schedule.The BoE intends to sell gilts on Tuesdays, Wednesdays, and Fridays and will specify the minimum prices it will accept prior to each sale.
In addition, the BoE stated that it would not sell gilts whose prices had significantly decreased on the day of the sale or for which there had been an auction on the same day.
($1 = 0.8614 pounds)
