BoE’s weekly repo hits all-time high at £19b

The Bank of England (BoE) allocated a record £19.096 billion ($24.40 billion) in its weekly short-term repo operation on Thursday, surpassing the previous week’s £17.186 billion according to Reuters.

These steadily rising sums have reached successive records in recent weeks.

The BoE employs repos to manage overnight money market rates, providing central bank cash to banks in exchange for less liquid assets like government bonds.

This strategy helps the BoE maintain its target rates while gradually unwinding some of its quantitative easing bond purchases.