LONDON – The Financial institution of England bought 1.412 billion kilos ($1.72 billion) of long-dated and index-linked gilts on Friday, taking to three.65 billion kilos the entire quantity of gilts it has bought since beginning to unwind earlier emergency purchases on Tuesday.
Friday’s sale was the third this week, because the BoE seeks to unwind the 19.3 billion kilos of purchases it made between Sept. 28 and Oct. 14, when it stepped in to stabilise the bond market after costs slumped following September’s mini-budget.
The BoE accepted the total quantity of bids submitted by buyers throughout Friday’s buy window.
($1 = 0.8186 kilos)
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