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Views Article – Sharenet Wealth

Europe, Forex

Bank of England to start gilt buy-backs in week starting Sept 9

LONDON, Aug 1 (Reuters) – The Bank of England said on Thursday it will reinvest the proceeds from a British government bond it holds that matures next month through a series of reverse auctions, beginning the week of Sept. 9.

The 15.2 billion pound ($18.4 billion) of proceeds from the bond will be split evenly across maturity sectors in reverse auctions of 1.268 billion pounds in size.

The BoE also said it would reinvest cash from maturing corporate bond holdings starting on Sept. 11, and will focus on sectors where it is now underweight. ($1 = 0.8258 pounds) (Reporting by Andy Bruce; Editing by Hugh Lawson)


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