Small Volume of BOE Bond Purchases Might Indicate Easing of Strain

Small Volume of BOE Bond Purchases Might Indicate Easing of Strain

0640 GMT - The small amount of gilts bought by the Bank of England under the program it initiated last week to address instability in the bond market may be a sign that the central bank senses the market stress easing, KBC Bank's analysts say in a note. Over the four days since the start of the program, the BOE bought GBP3.66 billion compared to the potential maximum of GBP20 billion, KBC says. "The small amount of buying might be an indication that the BoE sees market strain easing," KBC's analysts say. The BOE probably also avoids too much interference of current buying with its overall policy stance, the analysts say. The BOE is set to buy long-dated gilts until Oct. 14. ([e-mail])

 
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(END) Dow Jones Newswires

10-04-22 0322ET