Bank of England allocates record £34.3b in short-term repo funds

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By Aya El Sayed
The Bank of England (Yui Mok/PA) (PA Wire).

The Bank of England (BoE) allocated a record £34.292 billion ($44.1 billion) in seven-day funds during its weekly short-term repurchase operation on Thursday.

This marks an increase from the £27.464 billion allotted last week and surpasses the previous record of £34.015 billion set on August 1.

The heightened demand for short-term liquidity suggests continued pressure on the UK financial system as banks seek to secure funding amidst ongoing economic uncertainties.

The BoE’s repo operations are a key tool for managing short-term interest rates and ensuring stability in the financial markets.

Attribution: Reuters

Subediting: Y.Yasser

 

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