Wednesday July 1, 01:26 PM
BoE says no offers in non-competitive gilt auction
LONDON, July 1 (Reuters) - The Bank of England said it received no offers of gilts in the non-competitive part of Wednesday's reverse auction, leaving it the full 3.0 billion pounds to buy in the competitive process.
The little-used non-competitive auction process is designed to appeal to institutional investors wishing to sell gilts. They receive the average price the BoE pays in the competitive part of the auction.
The results of the competitive tender will be published shortly after 1345 GMT.
(Editing by Toby Chopra) Keywords: BRITAIN BANK/NONCOMP
(UK Economics Desk; Tel. +44 207 542 2774)
COPYRIGHT
Copyright Thomson Reuters 2009. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters (TRI.TO - news) .
NNNN
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
